ZIMRA Sets $7.15 Billion Revenue Target: Digitalization Key to Fiscal Stability

The Zimbabwe Revenue Authority (ZIMRA) has set an ambitious revenue collection target of $7.155 billion for the upcoming fiscal period, underscoring its strategic role in ensuring macroeconomic stability and supporting the National Development Strategy (NDS).

The core of this strategy rests on the massive success and continued rollout of the Tax and Revenue Management System (TaRMS) and the Fiscalization Data Management System (FDMS). These systems are already demonstrating a transformative impact on domestic tax compliance. The presentation revealed remarkable compliance improvements: the filing rate for relevant taxes has surged from 33.6% to 79.81%, while the remittance/payment rate has also jumped from 31% to 79.44%.

"Our $7.155 billion target is not just a number; it’s an absolute commitment to achieving national economic transformation and fiscal stability," stated the Commissioner General. "The remarkable jump in filing and payment rates, now approaching 80%, proves that our strategic investment in modern systems like TaRMS and FDMS is the key to unlocking compliance and building stronger economic foundations for Zimbabwe."

While key revenue heads such as Corporate Income Tax (CIT) and Intermediated Money Transfer Tax (IMTT) have shown inflation-adjusted growth rates of 85.29% and 83.37% respectively, ZIMRA still faces significant headwinds. Chief among these are the challenges posed by the large, non-compliant informal sector, tax evasion, and the dominance of the cash economy, which makes enforcement difficult. The 2025 strategy focuses on finalising the rollout of TaRMS and FDMS to all tax types, and broadening the tax base by registering 100,000 new taxpayers, primarily through simplified taxation models for small traders.