Mozambique: Business leaders call for reflection on tax benefits granted to mega-projects
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Loading... - Manuel Aissa
- 08 Feb 2023
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The Mozambican Confederation of Business Associations (CTA) has called for urgent reflection on the tax benefits granted by the Government to mega-projects, as a way to increase state revenues from tax collection.
“We are not saying that we are against the tax benefits. It is a policy of attracting foreign investment. But there is also a need for these companies to start paying taxes”, said Félix Machava, chairperson of the CTA’s fiscal policy, customs and international trade portfolio.
According to Machava, cited in Tuesday’s issue of the Maputo daily “Notícias”, the current value of the tax on profits, Corporation Tax, established at 32 percent, is very high for the functioning of an economy. He also called for a simplification of customs procedures so that the private sector can properly pay their taxes and contribute to the growth of the economy.
“It is up to the private sector to create, clarify, investigate, analyse and propose to the government better mechanisms for the growth of the economy”, Machava said, insisting that the current taxes paid by private business are excessive. Read More…
