MRA applauds Illovo Sugar Malawi as a tax compliant and responsible corporate citizen
Malawi Revenue Authority (MRA) has described Illovo Sugar Malawi as a tax compliant and responsible corporate citizen in remitting its tax obligations and also showing faithfulness in collecting and remitting all taxes they collect as an agent on behalf of Government.
The earnest applaud was made by MRA Commissioner General, John Biziwick when Illovo Sugar Malawi made a symbolic presentation of its of financial year corporate tax obligations of K16.6 billion at a special occasion held at Mount Soche Hotel.
“We extend our heartfelt commendation to Illovo Sugar Malawi for their voluntary commitment to declaring and paying their taxes in a timely and transparent manner,” Biziwick said, while indicating that on behalf of Government, the company contributes through VAT, WHT, PAYE, NRT and DIV.
“Why we are thankful to Illovo for remitting these particular taxes, is because most companies deduct these taxes but do not remit to MRA. We, therefore, encourage all taxpayers and members of the general public to draw inspiration from Illovo’s exemplary gesture of voluntary tax compliance.
“By doing so, they can focus entirely on their businesses and livelihoods, sparing themselves the inconveniences that come with unnecessary delays and penalties associated with tax enforcement actions.
He further said MRA appreciate Illovo Sugar as one of their “largest and most esteemed taxpayers” adding the symbolic invitation “signified not just another routine tax submission but a significant milestone in our ongoing partnership”.
“Today, we gather not only to receive the symbolic cheque but also to celebrate their commitment and dedication to fulfilling their tax obligations. Illovo Sugar Malawi has once again demonstrated they are unshaken as one of our largest taxpayers, with a remarkable tax contribution exceeding an impressive sum of K16 billion.
“This substantial contribution is a testament to Illovo’s unwavering commitment to our nation’s development and growth. Over the past few years, Illovo Sugar has consistently ranked among the top contributors to our domestic revenue mobilization efforts.
Biziwick highlighted the contributions Illovo has made in the past two fiscal years that in 2022, the company paid K8.17 billion in domestic taxes and collected K14.67 billion from VAT, WHT, PAYE, NRT and DIV on behalf of Government.
In 2022/23 fiscal year, Illovo paid K7.31 billion in domestic taxes and collected K25.07 billion from VAT, WHT, PAYE, NRT and DIV on behalf of Government.
“It is essential to recognize that MRA bears a vital responsibility of collecting tax revenues to propel our nation forward. This crucial mission can only be accomplished successfully through collaborative efforts with our key stakeholders—the taxpayers themselves.
“To ensure that tax payments are made promptly and efficiently, we want to emphasize that the doors of the MRA are always wide open. Our extensive network of offices throughout Malawi stands ready to provide assistance and guidance on matters of tax compliance, ensuring a smooth and collaborative tax collection process.
“As we move forward, let us remember that our collective efforts are instrumental in shaping the future of our beloved nation,” Biziwick said.
On his part, Illovo Sugar Malawi Managing Director, Lekani Katandula said the event marks as a significant milestone in the company’s journey towards playing its role in creating a thriving Malawian community.
“Our mission is clear and powerful: to create a thriving Malawian community by providing affordable food and energy solutions,” he said. “Our dedication lies in building a community that prospers alongside us.
“To achieve this, we have established four robust pillars that serve as the bedrock of our success and impact on society. The first pillar, our Sugar Market Leader, propels us to consistently deliver high-quality products that fulfill the needs of our valued customers and consumers.
“We recognize that by ensuring our business’s financial sustainability through product excellence, we can continue to make a positive difference in the lives of our community members.”
He further said Illovo’s commitment to sustainable agriculture forms its second pillar, adding: “We go beyond preserving the environment and strive to foster mutually beneficial relationships with our growers and agricultural partners.
“By providing commercial value and empowering their success, we contribute to the growth and prosperity of the entire agricultural sector.
“The third pillar revolves around practicing industry standards rooted in quality and value. We understand the importance of constant innovation and seizing new commercial opportunities along our value chain.
“This ensures that our industry remains at the forefront, making significant contributions to our community’s economic development and stability.
“Lastly, our community-connected pillar fuels our determination to create positive impacts on lives. We firmly believe in stimulating economic activity through collaboration and cooperation with our stakeholders.
“By working hand in hand with our people and investing in various social initiatives, we establish a strong foundation for sustainable development and create a brighter future for all.”
Katandula further reaffirmed the company’s commitment to “transparency, accountability, and the importance of contributing our fair share to the development of our beloved nation”.
“Honouring corporate tax is crucial because it allows us to actively participate in the broader goals of economic growth and social progress. By fulfilling our fiscal responsibilities, we support the government’s efforts in providing essential services, infrastructure development, and social welfare programs that benefit all Malawians.”
He thus acknowledged the invaluable partnership and unwavering support that MRA offers to the company, saying: “Together, we can ensure that our collective endeavours align with the aspirations of our nation, driving us closer to a future where every Malawian thrives.
“Let us continue to work hand in hand towards the realization of a vibrant and flourishing Malawian community.”
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