The Zanzibar Revenue Authority (ZRA) has announced a remarkable achievement, surpassing its revenue collection target for the period spanning July 2023 to March 2024. The authority reported a collection of 559.485 billion Tanzanian shillings, exceeding the estimated target of 536.209 billion Tanzanian shillings. This exceptional performance, representing a 24.53 percent surplus over the target, marks a significant milestone for the organization.
Mr. Yusuph Juma Mwenda, the Commissioner General of ZRA, conveyed this success in a press statement released on Wednesday. He expressed his satisfaction with the accomplishment, highlighting that this marks the first instance where ZRA has consistently exceeded the collection target for every month within the first nine months of a financial year.
Attributing the surge in revenue collection to various factors, Mr. Mwenda emphasized the efficiency of ZRA operations and the substantial investments in infrastructure as key contributors. He also acknowledged the impact of enhanced tax voluntary compliance among taxpayers, coupled with reforms in tax policies and laws aimed at fostering economic growth.
President Hussein Mwinyi's initiatives to bolster revenue collection were also acknowledged as instrumental in achieving this significant rise in revenue. Mr. Mwenda underscored the importance of tax education initiatives and the utilization of advanced tax collection systems such as the Virtual Fiscal Management System (VFMS) and the Zanzibar Integrated Domestic Revenue Administration System (ZIDRAS) in broadening the tax base.
Furthermore, collaboration with other institutions including the Tanzania Revenue Authority (TRA), the tourism commission, and immigration authorities, alongside fostering good relations with taxpayers, played a pivotal role in augmenting revenue collection efforts.
Looking ahead, Mr. Mwenda outlined strategies to sustain and enhance revenue collection in the final quarter of the fiscal year 2023/2024. These strategies include fostering creativity, simplifying tax payment processes, and addressing any existing challenges within the tax collection system. Additionally, efforts will be directed towards professional development for ZRA employees through training initiatives, ensuring efficient management practices, and facilitating access to information for visitors entering Zanzibar.
The Zanzibar Revenue Authority's exceptional performance not only underscores its commitment to fiscal responsibility but also highlights its pivotal role in driving economic growth and development within the region.