Business / Local
ZIMRA to commemorate Taxpayer Appreciation Day
27 Oct 2017 at 01:38hrs | Views
The Zimbabwe Revenue Authority (ZIMRA) will, on 30 October 2017, honour taxpayers under the banner of the annual Taxpayer Appreciation Day Awards. The dinner will be held at a local hotel under the theme "Honouring highest tax contributors for economic prosperity".
Zimra said the awards seek to honour clients for their contribution to the Consolidated Revenue Fund through payment of taxes and duties. The day, which was introduced in 2011, has over the years seen a host of clients from various categories receiving awards for their sterling contribution to the fiscus and consequently, nation building.
"Clients will be recognised under various tax heads, which include Value Added Tax (VAT), Corporate Income Tax, Customs and Excise Duties and Pay As You Earn (PAYE), among others. The Taxpayer Appreciation Day is observed in some African countries to demonstrate the critical role that domestic resource mobilisation plays in African economies. The Zimbabwean commemorations come at a time the Zimbabwe Revenue Authority has been surpassing its quarterly revenue targets, with the latest figures showing that gross collections for the third quarter amounted to US$1.03 billion, which translates to 19.25% above the target of US$863.56 million."
Zimra said Net collections, after deducting US$62.05 million in refunds amounted US$967.76 million was still 12.07% above target. The positive performance was attributed to higher collections in VAT on local sales and imports, Individual Tax, Excise Duty and Company Tax.
Zimra said the awards seek to honour clients for their contribution to the Consolidated Revenue Fund through payment of taxes and duties. The day, which was introduced in 2011, has over the years seen a host of clients from various categories receiving awards for their sterling contribution to the fiscus and consequently, nation building.
"Clients will be recognised under various tax heads, which include Value Added Tax (VAT), Corporate Income Tax, Customs and Excise Duties and Pay As You Earn (PAYE), among others. The Taxpayer Appreciation Day is observed in some African countries to demonstrate the critical role that domestic resource mobilisation plays in African economies. The Zimbabwean commemorations come at a time the Zimbabwe Revenue Authority has been surpassing its quarterly revenue targets, with the latest figures showing that gross collections for the third quarter amounted to US$1.03 billion, which translates to 19.25% above the target of US$863.56 million."
Zimra said Net collections, after deducting US$62.05 million in refunds amounted US$967.76 million was still 12.07% above target. The positive performance was attributed to higher collections in VAT on local sales and imports, Individual Tax, Excise Duty and Company Tax.
Source - Byo24News
