Malawi Revenue Authority collects K210bn in revenue, surpasses target in 9 months

The Malawi Revenue Authority (MRA) says it has collected close to K210 billion as total revenue starting from July 2012 to April this year, surpassing its target by K10 billion.

The total revenue is from deduction of taxes from income and profits, goods and services, international trade and other miscellaneous duties.

Speaking in an interview, MRA spokesperson, Steven Kapoloma said despite the fact that revenue collection report for April has not been further scrutinized by auditors, the authority expressed optimism that they had reached the April target.

He said this means that MRA has so far managed to collect over K210 billion surpassing K200 billion as its target.

Kapoloma: Above the target

Kapoloma: Above the target

“Initially the revenue body had a target of K200 billion and I am delighted to inform you that through the various taxes we are undertaking, we have managed to collect K210 billion just for the past nine months,” explained Kapoloma in a cheerful mood.

However, Kapoloma was non committal to disclose the category of the taxes registered which contributed to the overwhelming collections.

The tax collected is used by government for the implementation of various socio-economic development projects

The Malawi Revenue Authority (MRA), an agency of the Government of Malawi is responsible for assessment, collection and accounting of tax revenues.

MRA was established by an Act of Parliament in 1998 and was launched in February 2000.

It was formed to improve on the functions previously carried out by Departments of Customs and Excise, and Income Tax in the Ministry of Finance.—Malawi News Agency

Follow and Subscribe Nyasa TV :

Please share this Article if you like Email This Post Email This Post

More From Nyasatimes

More From the World

Comments are closed.