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CTA Advocates Reforms to Ease Tax Burden

CTA Advocates Reforms to Ease Tax Burden

The Confederation of Economic Associations of Mozambique (CTA) advocates the introduction of reforms in the Economic Acceleration Package with a view to easing the tax burden, facilitating access to finance, business performance and others.

The information was released this Friday in Maputo, as part of the launch of the 19th Annual Private Sector Conference scheduled for 16-17 May 2024, under the slogan “Investment and Business in the Environment of Economic Acceleration Measures, Challenges and Opportunities”.

According to the President of the CTA, the economic acceleration package can be an opportunity and a basis for assessing the results sought by entrepreneurs, allowing for adjustments and inspiration for the Action Plan for Improving the Business Environment (PAMAN).

In this context, the government and the business sector should evaluate the results of the implementation of the SAP.

“The business robustness index points to an average of 28.3 per cent in 2023, almost the same level as in 2022. It is worth highlighting the Bank of Mozambique’s decision to reduce the monetary policy interest rate by 1.25 percentage points,” he said.

“CTA estimates that, considering the debt of around 246 billion meticais, as of November, this reduction could lead to a reduction in companies’ debt servicing of around 5%. This is a positive and confidence-boosting sign, particularly as the outlook is for inflation to remain in the single digits,” he explained.

Vuma also said that CASP would be discussing an investment portfolio estimated at 1.7 billion dollars, spread across agro-industry, tourism, infrastructure and energy, with the potential to generate more than 200,000 jobs in five years.

For his part, the Minister of Industry and Trade, Silvino Moreno, made it known that the government continues to create conditions that facilitate the business and investment environment in Mozambique.

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The renewal of the Action Plan for Improving the Business Environment is proof of the government’s action.

Improving the business environment is a vital policy instrument for facilitating procedures, reducing response times and attracting investment.

“This exercise aims not only to boost public-private dialogue platforms, but also to gather from the public their concerns and suggestions, which are intended to help boost the economy, industrialise the country and improve the lives of the population,” said Moreno.

AIM

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