Zimra exceeds revenue collection target for 2011

Zimbabwe Revenue Authority 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 Zimra, said in an e-mailed statement. Company tax brought in $296.6 million against a target of $270 million.

Zimbabwe's economy is expected to grow by 9.4 percent in 2012, Finance Minister Tendai Biti said in his budget presentation last year.