Government has disclosed that it collected a total of K2.4 billion through domestic revenue in the month of September.
The revenue raised is 4.4 percent higher than what government targeted to collect
From the amount collected, tax revenues accounted for K2.1 billion while non-tax revenue amounted to K238.9 Million.
Income tax accounted for K821.7 million, while K956.1 million was raised from Value Added Tax (VAT) and K142.5 million was raised from Customs and K206.2 was collected from Duty.
Revenue collected from fees and levies amounted to K238.9 million.
According to a statement released by the Ministry of Finance Public Relations Officer Chileshe Kandeta today, the treasury during the month of September released a total of K3.9 billion for constitutional and statutory expenditure such as salaries and debt service.
The other part of the money went towards the implementation of development programmes and activities under the Ministries, Provinces and Spending Agencies (MPSAs).
From the total releases, K1.2 billion went towards payment of salaries, wages and salary related emoluments for public service workers and constitutional office holders.
Mr. Kandeta in his statement said to ensure that the country remains compliant in debt service, a total of K238.1 million was released out of which 41.4 Million went towards interest payments on Government Bonds and Treasury Bills and the balance of K196.7 Million was channelled to external debt service payments.
He said among notable releases for development programmes includes K1.444 Billion for infrastructure development programmes in road maintenance and construction sectors which has resulted in employment creation.
Mr. Kandeta also disclosed the Food Reserve Agency (FRA) received K141.3 million for the purchase of strategic food reserves and payment for logistical services.
He said a further K114.4 million went towards the Farmer Input Support Programme to facilitate the distribution of fertilizer for the 2013/2014 farming season.
Mr. Kandeta said the Public Micro- Finance Company was funded K15 million to facilitate affordable credit to public workers while the Public Service Pension Fund received funds amounting to K82.9 million to alleviate the plight of retirees and pensioners.
ZANIS
Tired of these figures. We want to see figures on price tags reduced by half.
since when from the inception of Human beings have prices gone down?
It is clear that this govt is running on a deficit, the revenue raised was K2.4b, but expenditure was K3.1b. This translates to a shortfall of K1.5b (38.4%). In other words you are creating jobs without money, someone will have to pay for these poor decisions later. Spending what you do not have means you are leaving on what you will earn later. How are you going to survive when it is time to pay back? HIPC then kicks in. Scarcity is a norm in resource management, which implies you cannot do everything at a goal, but only allocate resources optimally to avoid overspending. PF listen to timely advise for the seek of our children’s future.
More money in your pockets. low taxes, low food prices and in 90 days we will deliver constitution ” vote for PF in 2016″
The collection of K2.4bn is good news indeed, but is it enough to address the budget deficit (or is it overrun)? We are forced to run on borrowed funds because of populist but poor policies that are put in place. I contend that we proper management of local resources, there would be absolutely no need to borrow at all!
At least good report and PR from the Ministry It helps remove unnecessary speculations and let all to see therefore encourage refined decision making.
Consider increasing the tax initiatives and other revenue driven measures.Look at the Carbon Tax at the many planes landing at our airports and consider raising additional funds there.A lot of carbon is emitted by these huge planes and its a source of revenue for ZRA
Perhaps you are blogging outside Zambia. What planes are you talking about landing at our airports compared to the deficit? Leave within means albeit with prudent borrowing. What you cannot do is to borrow more than your capacity and expect to be free!! These multidunous projects are simply not sustainable (full stop)