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January 2012 Volume 39, Business , Financial and Property Indaba

Zimbabwe Collected $2.8 Billion in 2011 Taxes, Exceeding Target

Sun, Jan 15, 2012

Zimbabwe collected $2.8 billion in tax in 2011, surpassing a $2.5 billion target, as the economy strengthened, the government said.

VAT contributed $1.1 billion and individual tax $480 million, Stenford Moyo, chairman of the Zimbabwe Revenue Authority, said in an e-mailed statement. Company tax brought in $296.6 million against a target of $270 million.

Zimbabwe’s economy will probably grow by 9.4 percent in 2012, Finance Minister Tendai Biti said in his budget presentation last year.

By Staff reporter and agencies

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