Ayesha Nyanzunda
The Zimbabwe Revenue Authority (ZIMRA) has outperformed its revenue target for the first half of 2024, collecting ZIG36.06 billion against a projected ZIG35.39 billion, an increase of 1.88%.
In the Revenue Performance Report for the first half of 2024, ZIMRA Board Chairperson Anthony Mandiwanza credited the achievement to the Authority’s diligent efforts and the stable economic conditions.
“The revenue target for the first half was exceeded by 1.88%, representing real effort applied by the authority under stable economic conditions. Individuals (PAYE), Excise Duty, VAT on Local Sales, VAT on Imports, and Companies constituted the majority of the tax collections, respectively,” Mandiwanza said.
The introduction of Zimbabwe Gold, the national currency launched in April 2024, has significantly contributed to this upward revenue trajectory by fostering economic stability in the business environment.
ZIMRA has also expanded its taxpayer base, adding 65,547 new taxpayers, thanks to the implementation of the Tax and Revenue Management System (TaRMS), a key component of its digitalization initiative.
In an effort to enhance border security, ZIMRA has deployed drones along the Beitbridge borderline to monitor unauthorized entry points. Additionally, the Authority has introduced fast scanners to expedite and improve the efficiency of non-intrusive customs inspections.
Looking ahead, ZIMRA aims to collect over ZIG55 billion in revenue during the second half of 2024.