MAPUTO, The Mozambican Tax Authority (AT) has forecast that tax collections in 2018 will amount to 222 billion meticais (about 3.73 billion US dollars), excluding payments fromforeign investment mega projects.
In 2017, the AT collected 202.25 billion meticais, which was more than 8.5 per cent higher than its initial target.
Addressing a media conference here Tuesday, following a meeting between the AT and Maputo business people, the General Inspector of Taxes, Augusto Tacarindua, said the AT could very well exceed its target for this year too, since it is currently updating its data base of taxpayers.
He announced that beginning Feb 1, the AT will fine all tax-paying businesses which fail to issue invoices or receipts but the likelihood of any serious implementation of this threat is minimal as AT documents show that in the last quarter of 2017, out of 3,924 taxpayers, only 704 issued invoices.
Tacarindua also threatened fines for printing companies which print invoices without due authorisation, and for taxpayers who use invoices printed by unauthorised printing companies, or who use electronic mechanisms for issuing invoices without due authorisation.
Source: NAM NEWS NETWORK