The Zimbabwe Revenue Authority (ZIMRA) has demonstrated remarkable progress in revenue generation during the second half of 2024, surpassing its revenue target by 7.15%. The total net revenue reached ZWG 69.22 billion, bolstered by effective tax strategies, the stabilization of the exchange rate, and new policies enhancing compliance, particularly in Value Added Tax (VAT) collections. Notably, the introduction of the Fiscalisation Data Management System (FDMS) played a significant role in improving real-time data sharing with taxpayers, while efforts to combat transit fraud contributed to greater adherence to regulations.

As ZIMRA looks ahead to 2025, the outlook remains optimistic with a revenue target set at US$7.155 billion, aiming for a 17% increase from the previous year. This ambitious goal is supported by ongoing digitalization initiatives, administrative efficiencies, and strategic reforms to broaden the tax base and reduce evasion. ZIMRA also emphasizes the importance of stakeholder engagement, underlining its commitment to enhancing quality service delivery and fostering a collaborative environment with taxpayers for the continued economic growth of Zimbabwe.

Breakdown of Overall Performance

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