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Tax Authority Recovered 1.1B Meticals in 2023

Tax Authority Recovered 1.1B Meticals in 2023

The Tax Authority (AT) recently announced that, as part of its auditing and inspection activities, 1.1 billion meticals had been recovered, emphasising that the figures had increased compared to the 1 billion recorded in 2022.

According to the AT’s director-general of Taxes, Lurdes Banze, the inspection and auditing process aims to ensure that the tax administration and the taxpayer are brought closer together in the fulfilment of tax obligations, as well as contributing to the documentary verification of taxable persons, so that the conformity of the information declared can be verified and possible inconsistencies raised.

“The process of auditing companies consists of obtaining and evaluating evidence on matters associated with tax acts, thus safeguarding the State’s fiscal interests and protecting the public treasury. Last year, we saw a 15.9 per cent increase in revenue,” he said.

She said that by 2024 the activity will have improved and that her institution is standardising the internal procedures for the audit, tax and customs inspection brigades throughout the country.

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“We intend to promote joint audits and inspections, as well as reducing the likelihood of companies being audited and inspected repeatedly during the same year. We’re going to prioritise computer-based controls and ensure that the legitimate rights of taxpayers are duly observed,” he explained.

Banze added that “the ultimate aim of the AT’s measures is to provide a competitive balance in each sector of economic activity and to inhibit tax evasion, in order to combat corruption and enable the normal functioning of the economy”.

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