ZIMRA Surpasses 2020 First Quarter Revenue Collection Target

ZIMRA has reportedly surpassed 2020 quarter 1’s revenue collection target, The Herald reports. The collected revenue netted $14 billion against a target of $12.81 Billion.

This was revealed last night during a post-cabinet briefing when the Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa said:

The Minister of Finance and Economic Development (Professor Mthuli Ncube) reported that revenue collections for the first quarter of 2020 amounted to $14,18 billion, exceeding the targeted revenue of $12,81 billion by 10,67 percent.

That $4,75 billion was spent on employment costs as at 31 March, 2020, against the target of $3,96 billion and that social spending amounted to $1, 25 billion against a target of $1,6 billion.

More: The Herald