- Mozambican authorities are expecting to post a huge loss in tax revenues this year, citing the global economic crisis effects as the major problem.
The head of the Mozambican Tax Authority, Rosario Fernandes, was quoted in media reports saying the country could experience losses of up to US$ 100 million, though he said the figure could be changed as the final compilation of revenues collected was yet to be completed.
Mozambique's authorities have however taken a step forward in making sure that all companies adhere to the state laws and meet their tax obligations.
The head of the tax authority made a warning to companies and institutions to comply with tax payments by auditing corporate accounts or financial results.
"We are intensifying probes into the data given to us by the companies to verify to what extend the information, especially with regard to tax payments and remittances, is accurate or represent the real situation of the companies," he was quoted saying.
The state news agency AIM reported that Mozambique had expected to collect $1.725 billion in in taxes this year up from $1.466 billion in 2008 and $1.294 billion in 2007, with tax revenue mainly expected to boost the current state budget.
afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.