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MEF: State Businesses Contributed $375.4M to Tax Revenue Collection in 2022

MEF: State Businesses Contributed $375.4M to Tax Revenue Collection in 2022

The institutions that make up the State Business Sector (SEE) contributed 24.2 billion meticals (375.4 million dollars) to the collection of tax revenue for the state in 2022.

‘Of the total, the highlight goes to Corporate Income Tax (IRPC) which contributed 10.5 billion meticals (43 per cent), Value Added Tax (VAT) with 9.8 million meticals (41 per cent), followed by Personal Income Tax (IRPS) with 2.5 billion meticals (11 per cent),’ said the accounts report published by the Ministry of Economy and Finance (MEF) and quoted by Carta de Moçambique.

Although satisfactory, the MEF explained that the SEE’s tax contribution fell to 2.5 per cent in 2022, compared to the results of 2021, when the figure stood at 24.9 billion meticals.

‘The reduction is associated with the decrease in IRPC, IRPS and the number of workers and other taxes and fees,’ it said.

The document revealed that in support of SEE companies, the state disbursed 5.5 billion meticals to finance social and development projects, pay off the companies’ sovereign debt, make investments and support the treasury. The State Business Sector, on the other hand, contributed to the well-being and development of society by generating direct and indirect jobs, generating income, contributing to the tax authorities and social responsibility actions.

‘The SEE employed 17,764 workers, 13,869 of them in public companies and the remaining 3,895 in subsidiaries. In addition to direct jobs, 29.7 billion meticals were spent on staff remuneration,’ he concluded.


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