The number of companies registered with Mozambique’s Tax Authority increased by 19.44 percent in 2014, according to official data.

At the end of 2014, the Tax Authority had 3.25 million taxpayers on its records, of which 67,689 were companies, accounting for 2.09 percent of the total, reports news website Macauhub.

According to preliminary data, the Tax Authority had collected 153.4 billion meticais (US$4.7 billion) in fiscal revenue as of December 30, 2014.

The State Budget for 2014 included expected tax revenues of 147.3 billion meticais, a goal that was revised to 153.1 billion meticais with the approval of an amending budget.

This was the ninth consecutive year that revenue collection surpassed the annual target set in the country’s State Budget, said the Tax Authority.