Zimbabwe Gross Revenue Collection for Fourth Quarter Over Target

The Zimbabwe Revenue Authority said gross collections for the fourth quarter of 2020 were around ZWL94.3 billion ($1.14 billion), exceeding the targeted ZWL91.5 billion, according to a revenue performance report published in the state-run Sunday Mail.

Gross foreign currency collections for the quarter amounted to $370.9 million while net forex collections were $362.1 million after deducting refunds of $8.81 million.

Net revenue collections grew by about 681.7% in nominal terms when compared to the ZWL11.7 billion collected during the same period in 2019, according to the report. “All revenue heads registered positive growth in nominal terms,” it said.

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