Zimra to col­lect $6,2bn in 2019

Sunday News (Zimbabwe) - - Front Page -

THE Zim­babwe Rev­enue Author­ity (Zimra) plans to col­lect $6,2 billion from taxes this year, rep­re­sent­ing about 76 per­cent of the $8, 16 billion 2019 Bud­get.

With Zim­babwe’s gross do­mes­tic prod­uct (GDP) pro­jected to reach $31,6 billion in 2019, Trea­sury is look­ing to gen­er­ate rev­enues amount­ing to $6,6 billion this year, in­clud­ing re­ten­tions ($400 mil­lion), taxes ($6,037 billion), and non-tax ($162 mil­lion).

Fi­nance and Eco­nomic

Devel­op­ment Min­is­ter Pro­fes­sor Mthuli Ncube, said ex­pen­di­tures were pro­jected at $8,2 billion, with cap­i­tal pro­grammes es­ti­mated at $2,018 billion. The balance of $6,1 billion bud­geted for State pro­grammes this year would be spent on cur­rent ex­pen­di­tures. A deficit of $1,6 billion or 5 per­cent of GDP is pro­jected in line with Govern­ment’s new plan for a sus­tain­able fi­nanc­ing ca­pac­ity of the do­mes­tic mar­ket.

The All Share in­dex re­treated 1.14 points 0,78% to close at 145.18 points in a ses­sion mainly dom­i­nated with losses. Old Mu­tual Lim­ited dropped $0,1869 to close at $7,604, Innscor lost $0,0500 to $1,7500 and Cas­sava Smartech traded $0,0440 weaker at $1,3775. Econet also de­creased by $0,0320 to $1,3875 and CBZ was $0,0150 down at $0,1400.

Only two coun­ters gained ground as Sim­bisa added $0,1200 to close at $0,8500 while First Mu­tual Hold­ings traded $0,0205 stronger at $0,1240.

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