05.09.2013 - Mozambican Tributary Authority calls for creation of SWF with capital gains revenues
The Mozambican Tributary Authority (AT) has proposed a Sovereign fund or a Macroeconomic Stabilisation Fund be set up using revenues from capital gains taxes charged on the sale of Mozambican assets by foreign companies, Mozambican newspaper O País reported. In a statement published in Maputo, the AT said that good international practices recommend that revenues from capital gains taxes be used to set up one of these funds or to be channelled into an investment bank in order to feed the domestic economy rather than funding public expenditure, as has so far been the case...............................................Full Article: Source
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