Preliminary revenue performance released by Zimra showed that gross collections were higher than $781,99 million collected in the first quarter.
“This compares favourably with the first quarter revenue performance where gross collections were 9% below target,” Happias Kuzvinzwa, Zimra’s acting commissioner general said.
Net collections were 8% below target after processing refunds amounting to $41,6 million, Zimra said.
“This was a major improvement from the preceding quarter where net collections were 16% below target. There was also a 31% reduction in refunds from the
$61,32 million processed in the second quarter of 2015,” he said.
Kuzvinzwa said Zimra’s improved performance in the period under review was a result of operational efficiency and the fight against corruption.
“Real-time connection of fiscal gadgets by Zimra is making it increasingly difficult for taxpayers to defraud government through value added tax (VAT) fraud. There has, thus, been an improvement in compliance levels, declaration of correct returns and payment of revenue,” he said.
Resultantly VAT on local sales for the period under review grew by over 3% to $194,62 million from $187,89 million collected in the first quarter of 2016.
Kuzvinzwa said in the second quarter Zimra had enhanced its enforcement strategies to curb transit fraud.
News Day