By BUUMBA CHIMBULUGOVERNMENT has exceeded revenue target for the first quarter of this year by 13 percent, despite the fiscal deficit remaining elevated.Revenue collected between January and March this year amounted to K18.5 billion from K16.3 billion target, representing a 13 percent increase.The over performance of the revenue collection was driven by Pay As You Earn (PAYE) tax arrears, upward amendments of provisional returns and advance payments by both mining and non-mining firms. This is according to the Secretary to the Treasury, Fredson Yamba, who briefed the media in Lusaka yesterday when launching the 2022 national budget consultation and update on the performance of the first quarter of 2021.Mr Yamba said Government spending, total expenditures, including amortisation, in the first quarter of this year was below the projected level.He explained that total expenditures stood at K22 billion from a projected K28.6 billion, representing 23 percent below target.“Notable expenditures included K6.6 billion for personal emoluments, K3.2 […]
GOVT EXCEEDS REVENUE TARGET
