Fin24

Burundi tax revenues rise 11%

2012-11-27 16:38

Bujumbura - Burundi's tax revenues rose 11% year-on-year to $294.6m in the 10 months to October, due partly to improving business activity in the tiny central African nation, its revenue body said on Tuesday.

A new centralised revenue authority, known as OBR, was established in 2010 with the main goal of maximising the tax base to allow the landlocked central African nation to cut its reliance on external budget support.

Half of Burundi's budget is still funded by donors.

"June, July and August has been a period of intense commercial activities, and this has had positive effect on revenues of the entire 10 month period," OBR said in its monthly report.

Monthly tax revenues climbed to 60.6 billion francs in October this year from 47.6 billion francs in October 2011.

The revenue agency projects tax revenues to 600 billion francs this year, up from 471 billion francs collected in 2011.