Tax in Mozambique will be paid through banks

2 August 2012

Customs charges, as well as Value Added Tax (IVA), and Corporation Tax (IRPC) will be paid through banks by the end of 2013, according to a document from the Mozambican Finance Ministry cited by daily newspaper Correio da Manhã.

Following the government’s adoption of the Strategic Plan for Payment of Taxes through Banks, Individual Tax (IRPS) will also be paid through the banking system, by July 2014, in an effort to boost efficiency in paying taxes. Mozambique’s tax legislation is also being reviewed in order to adapt it to the e-Taxation system.

The work is only expected to be concluded by the end of 2012, for IVA and by June 2013 for IRPC and IRPS, according to the document from the Finance Ministry.

Meanwhile, as part of efforts to boost the Large Taxpayers Unit “Taxpayer Managers” are being introduced so that they can be in constant touch with those taxpayers, carry out specific audits and improve revenue projections.

Also as part of the process of improving fiscal policy and adopting modern tax administration practices, there is a plan to set up a single database and a single taxpayer number. By the end of 2012 officials expect 80 percent of companies and 20 percent of individual taxpayers to be registered in the new database. (macauhub)