MRA tax awareness roars into an extra gear: VAT withholding agents in the loop

Blantyre and Lilongwe has hosted four sensitization meetings between the Malawi Revenue Authority (MRA) and some selected Value Added Tax (VAT) Withholding agents.

Some of the VAT withholding agents with MRA officials
Some of the VAT withholding agents with MRA officials

In his inaugural national budget statement recently presented to Parliament, Minister of Finance Joseph Mwanamvekha said, in the current financial year 2019/2020, the Ministry of Finance in collaboration with MRA will ensure that more Malawians are sensitised about tax and how to access several services electronically from the tax bull.

MRA is directly meeting with individuals and trade groups from various sectors of the economy to sensitise them about tax obligations and convenient access of MRA services such as E-Payment.

Among others, the VAT Withholding agents were from Reserve Bank of Malawi (RBM), Accountant General, Malawi Energy Regulatory Authority (MERA), Malawi Communication Regulatory Authority (MACRA).

The main objective of the meetings was to explain and clarify to the Agents about their roles and responsibilities to withhold and account for VAT in line with the law.

Opening one of the meetings in Lilongwe, Rosemary Ngwira, Lilongwe Domestic Taxes Station Manager, said MRA cherished the good working relationship that exists with stakeholders involved in tax collection.

“MRA appreciates the support that it receives from you and that is why we have come to you to help us in implementing this new law. It is, therefore, my hope that we will continue working together for the good of the country,” she added.

During her presentations, MRA’s Nancy Mwale took participants through criteria for choosing agents, payment of VAT deducted, submission of returns, penalties of offences and penalties on debt, among others.

Speaking after the one of the meetings, RBM’s Accounting Manager, Rodney Kewo, applauded the MRA initiative and pledged that the central bank will withhold tax in line with the new legislation.

The MRA team at the meetings included Nancy Mwale, Lilian Nyirenda from Domestic Taxes Division and Hilda Mkandawire and Napo Simkonda from Corporate Affairs Division.

Follow and Subscribe Nyasa TV :