Mozambique’s new Tax Authority operational by year’s end

21 September 2006

Maputo, Mozambique, 21 Sept – Mozambique will create a new Tax Authority by the end of this year to coordinate collection of revenues in an effort to boost fiscal receipts, an official has said.

Maputo media cited Deputy-Finance Minister Pedro Couto as saying the new authority, whose chief will be appointed in coming weeks, will merge Mozambique’s existing inland revenue and customs services.

“We are on good course in terms of tax collection. We have undertaken continuous evaluation of tax collection and reached the conclusion that revenues were nearly 100 percent of those forecast for the first half of the year”, said Couto.

The Maputo Exchequer collected some euros 474.3 million from January to July of 2006, in line with government budget predictions.

Couto said Maputo’s tax revenues would increase to 14.8 percent of GDP this year, reaching 14.9 percent in 2007 and 15.9 percent by 2009.

The Mozambican government is striving to raise tax revenues to reduce its foreign aid dependency. (macauhub)