Tax revenues in Mozambique expected to total US$5.4 billion in 2015

2 January 2015

Tax and customs revenues in 2015 in Mozambique are expected to total 180 billion (US$5.4 billion), compared with just over 153 billion meticais set by the Amending Budget Act of 2014, said the president of the Tax Authority.

Cited by Mozambican newspaper Notícias, Rosário Fernandes acknowledged that this was a very ambitious goal, but that his institution would seek for it to be achieved and even exceeded, similarly to what has happened in recent years.

Making a preliminary assessment Wednesday of state revenue collection in 2014, Fernandes stressed that, in order to meet that target, the Tax Authority (AT) would focus, among other things, on expansion of the tax base.

Broadening of the tax base, he said, would be achieved not only through registration of taxpayers and intensification of tax education activities, but also through the decentralisation of tax offices.

The Tax Authority will also work to involve more banks in the tax payment process, since only 11 of the 20 commercial banks operating in Mozambique collaborate in receiving tax.

In 2014, or more precisely up to midday on 30 December, the AT raised taxes in the amount of 153.4 billion meticais (over US$4.6 billion), against an annual target of 147.3 billion meticais. (macauhub/MZ)