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Mozambique’s tax authority seeks to meet revenue target for 2016

March 22, 2016

 

The Mozambique Tax Authority (AT) will seek to meet the target set for tax collection this year, of 137 billion meticais (US$2.7 billion), the AT’s president said a few days ago inMaputo.

 

Amelia Nakhari, speaking at a lecture that marked the launch this week of celebrations for the first time, of Taxpayer Day on 22 March, said the AT would “do everything possible” to achieve that goal, despite the less favourable economic climate, affected by the depreciation of the national currency, drought in the south and heavy rains in the centre and north of the country.

 

The president of the AT said that to date the institution had already collected about 14 percent of the tax target for this year, two or three percentage points below the percentage achieved in the same period of 2015.

 

More than 35 percent of Mozambique’s tax revenue is provided by value added tax (VAT), an indirect tax introduced in 1998 as part of the reform of the national tax system.

 

Mozambican daily newspaper Notícias, reported that after taking into account the weight of this tax the AT declared 2016 as the year of VAT. The theme of the speech that marked the launch of the Taxpayer’s Day celebration was the “Impact of VAT on State revenues.” (macauhub/MZ)

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