MRA registers 4.38% drop in tax revenue

The Malawi Revenue Authority (MRA) collected K34.6 billion in August, registering 4.38 percent drop in tax  revenue.

In July, the Authority collected K40.9 billion, according to its report.

MRA had projected to collect K36.2 billion in the month of August, but only collected K34.6 billion, K1.6 billion shy.

However, the authority has managed to surpassed its projection for  the financial year. It has accumulatively collected K75.61 billion from the projected K75.6 billion.

Other tax collections that have performed include corporate tax K1.11 billion  over a projected K938 million and  excise duty at MK4.6 billion above a  projection of MK4.2 billion.

Meanwhile, the authority is expected to contribute at least K492 billion towards the zero-aid budget in the 2014/2015 financial year.