adminMary Mutamiri
THE relaxation of Covid-19 protocols on business has contributed to an increase in industry capacity utilisation.
This was said by Finance and Economic Development Minister, Professor Mthuli Ncube, in his address at the annual Zimbabwe Revenue Authority general meeting in the capital yesterday.
The Minister said Zimbabwe’s economy became healthier in 2021, largely due to a good agricultural season, coupled with increased industrial capacity utilisation.
“The relaxation of Covid-19 protocols on businesses contributed to the increase in industry capacity utilisation, which grew from 47 percent in 2020, to 56.25 percent in 2021.
“Efforts by the Government to stabilise inflation yielded positive results with inflation reducing from a high of 838 percent and a low of 60.7 percent at the close of the year 2021.
“Our operating environment, while having seen marked improvements during the period under review, does not mean Zimra’s job has been a stroll in the park,” he said.
“The difficult socio-economic environment was a less than ideal starting point for Zimra’s revenue collection mandate for 2021.
“Zimra still had many hurdles from the operating environment that could have negatively impacted domestic resource mobilisation had it not been for their resilience and commitment to the task at hand.”
The Minister also advised stakeholders to continue working hard in the future.
“While I am generally impressed with Zimra’s performance in 2021, I implore you to come up with strategies that will compel taxpayers to voluntarily comply.
“The small-to-medium enterprise sector is a fertile ground for broadening the country’s tax base.
“The need to simplify your tax processes, and to ensure your system is always up, cannot be over emphasised.
“Let us make tax compliance a fulfilling and enjoyable exercise.
“I expect Zimra officials to exude ethos of high integrity and transparency in all their operations and conduct.”
Online Reporter