Zimbabwe tax collections at 6% below target

The depressed economy in Zimbabwe has resulted in tax collections six percent below target in the first half of the year. From January to June, taxes amounted to 1.65-billion dollars. That's below the projected 1.75 billion. Company taxes were 13 percent down, at 145-million dollars. Mining companies paid 33-million in royalties, below the targeted 52-million dollars, as mines struggle with low commodity prices. ZIMRA was owed 2.63 billion dollars in outstanding taxes during the first half of the year. The funds collected from taxes finance Zimbabwe's entire budget. International lenders like the I-M-F and World Bank will only resume financial support for the southern African nation once it clears its debts.