By Zivanai Dhewa

Despite challenges experienced by the Zimbabwe Revenue Authority (ZIMRA), in the third quarter of this year, ZIMRA managed to record a surplus above their projected collection income, the Harare Post can report.

“Gross collections for the quarter were ZWL58.83 billion, translating to 31.19% above the targeted ZWL44.83 billion.  After deducting ZWL1.81 billion, net collections came down to ZWL57.00 billion. This gives a positive variance of 27.16% against the target.

According to the Revenue Performance Report for the quarter ended 30 September 2020, the relaxation of the Covid-19 lockdown conditions, the Monetary Policy intervention all assisted in the positive increase in revenue collection.

“The revenue performance in the Third Quarter ended 30 September 2020, reflected an upward trajectory despite the challenges in the operating environment during the period.

“Covid-19 lockdown conditions were relaxed, enabling more business to resume operation, thereby enhancing their ability to meet their tax obligations.

“Furthermore, the monetary policy interventions that were done during this period inflated the amounts to be collected resulting in a corresponding positive impact to the revenues,” read part of the report.

In its ease of doing business the Revenue Authority continues to encourage the use of electronic platforms such as OWNAI, and One Money platforms, this has been able to enable the elimination of paper processes and interface between staff and clearing agents and other stake holders. The Revenue Authority has also taken measures to plug revenue leakages.

“Customs enforcement activities in the form of roadblocks and border patrols were increased during the quarter to curb smuggling that had increased due to the closure of border posts to private travel,” read part of the report.

The Authority predicts momentum will increase in the last quarter of this year, with the revenue collection of the year having been increased to ZWL172 billion.

“The growth is expected to come from increased productivity with the opening of more business sectors in the economy.

“South Africa has opened its borders and cross-border trade is expected to increase thereby feeding into higher collections in import duty.

“The weather forecasts are projecting good rains in the coming farming season, this boosts economic activity in all sectors as value cha cins can then be easily promoted,” read the report.