Staff Reporter
The Zimbabwe Revenue Authority (ZIMRA) has exceeded its revenue target for the second half of 2024 by 7.15%, despite economic challenges, according to a report by the authority.
In a statement, ZIMRA Board Chairperson Antony S. Mandiwanza, attributed the strong performance to improved tax compliance, technological advancements, and stakeholder collaboration.
“The year 2024 has seen significant achievements and forward momentum for ZIMRA, marked by impressive strides in revenue generation, compliance promotion, and the integration of innovative technologies. The Authority not only met but surpassed its set targets, establishing a solid foundation for future growth despite facing various economic challenges,” said Mandiwanza.
Gross annual tax revenue for 2024 stood at ZWG110.50 billion, surpassing the ZWG105.73 billion target by 4.51%. After refunds of ZWG3.38 billion, net collections reached ZWG107.12 billion, 1.31% above the target.
Mandiwanza highlighted the impact of Zimbabwe Gold (ZWG) on exchange rate stability, stating, “The introduction of Zimbabwe Gold played a key role in stabilising the exchange rate. Although an exchange rate shock was encountered in September 2024, revenue performance continued to follow a positive trajectory.”
ZIMRA also modernised its tax administration systems with the successful launch of the electronic tariff system (TaRMS), an ASYCUDA upgrade, and new fiscalisation projects to enhance domestic revenue management.
To improve service delivery, ZIMRA has begun the ISO 9001:2015 certification process, aimed at standardising operations and increasing efficiency. Additionally, the authority is constructing staff accommodation in key locations such as Chirundu and Maitengwe, with completion expected by 2025.
Mandiwanza praised ZIMRA’s efforts, saying the results demonstrated the resilience of Zimbabwe’s tax system.
“The success in the second half of the year, as well as throughout 2024, is a testament to the collective efforts of all stakeholders involved. These results indicate a solid foundation for sustained revenue generation moving forward,” he said.
With these gains, ZIMRA is set to continue strengthening revenue collection and improving tax compliance in 2025.
