Malawi Revenue Authority (MRA) and Anti Corruption Bureau (ACB) in joint crackdown on suspected tax evasion are now pursuing business person Imran Malida after the customs body seized property and sealed off offices belonging to motor vehicle supplying company, Mike Appel and Gatto Limited, over the company’s failure to remit about K1.2 billion in taxes. […]
Shabir Gani, director of Victoria Pharmaceuticals Industries Limited has been reported to Anti Corruption Bureau (ACB) to investigate possible leads of corruption for his evasion of customs duty evasion totaling millions. Gani had applied to government during the Peoples Party administration for duty free status of importation of two commercial vehicles- a pick-up and a saloon. […]
A colonial-era tax treaty between Malawi and the UK is costing the southern African country significant amounts of lost tax revenue and must be reformed, the charity ActionAid has said. The group said that the 60-year-old tax deal, which allows British multinationals firms operating in Malawi to move out revenue untaxed, was hindering investment in […]
Acts of continued tax evasion promoted by dishonest entrepreneurs have angered President Peter Mutharika who has challenged that Malawi can be financially independent of donors if every tax is rightly collected. Over K50 billion in tax revenue is currently stuck in court cases as many of the businesses involved in the practice of tax evasion […]
Members of Parliament spoke against taxing an estate after death, saying it is unfair, and called on government to leave the dead to rest in peace. MPs spoke against people paying death duty when contributing to the Estates Duty (Amendment) Bill in Parliament tabled by Minister of Finance, Economic Planning and Development Goodall Gondwe. Most MPs […]
Citizens in eastern district of Balaka have proposed an increase of taxes on the wealthy, including that Malawi’s President Peter Mutharika should start paying tax. The call was made at Balaka’s Catholic Women Organisation on Friday during the State of the Union (SOTU) in conjunction with Citizen Alliance public debate dubbed Bwalo la Nzika. Contributing to the […]
A 24-year-old Pakistan national, Muhammad Jawad, has been arrested at Chileka Airport in Blantyre after being found in possession of US$270,000 (approximately K143, 100,000) without supporting documents. Police arrested businessman Jawad owner of Pick and Shop in Limbe as he was trying to leave the country for Dubai. National police Public Relations Officer, Rhoda Manjolo […]
The tax collector, Malawi Revenue of Authority (MRA) collected K52.14 billion in the month of July, beating the set target of K52.04 billion by almost K100 million. According to a published Revenue Performance report, the July collection represents a revenue growth of 27 percent compared to the same month last fiscal year. MRA has since […]
Malawi Revenue Authority (MRA) has failed to stop a judicial review on the decision to arrest the valuer of former president late Bingu wa Mutharika’s property, Yeremiah Chihana for tax evasion . Chihana, who is the owner of YMW Property Investment Company, was arrested June 19, 2015 on suspicion of tax evasion offences. On Tuesday, MRA went to court and lodged […]
MP for Mzimba West (Peoples Party) Harry Mkandawire has expressed fears that Malawi jails would be full of tax convicts if the proposed penalties for businesses which evade remitting Value Added Tax (VAT) are going to be followed to the letter. Malawians would be punished for ignorance of some of the amendments to the VAT […]
Blantyre Magistrates Court has convicted Feng Shaohong, a Chinese national, co-owner of ABC Shop in Blantyre for failing to issue and retain an Electronic Fiscal Devices (EFDs) receipt. According to a Steve Kapoloma, Malawi Revenue Authority (MRA) Deputy Director of Corporate Affairs, Shaohong in February this year failed to issue and retain a fiscal receipt after selling assorted […]
Uranium miner Paladin has rejected the susbstance of the report by Action Aid Malawi that states that Malawi government has lost out on more than US$43 million in tax to the Australian mining multinational , saying it is “fundamentally unsound”. Paladin’s General Manager for Malawi, Greg Walker told Nyasa Times that Action Aid Malawi did […]
The Malawi Revenue Authority (MRA) has arrested Yeremiah Chihana, who is the owner of YMW Property Investment Company, on suspicion of tax evasion offences. Chihana, the valuer of former president late Bingu wa Mutharika’s property, was arrested on Friday, June 19, 2015. The property evaluator and entrepreneur also owns Vikawu Trust, Steers Auctioneers and Estate […]
The Malawi Revenue Authority (MRA) has arrested Managing Director of Intertrade Agency and Mozimplex, a Mozambique based company, Mohamed Rafik Amad, for allegedly using false custom documents to externalize forex. Amad was arrested on Tuesday, June 16 2015 for presenting fake custom documents to banks for remittance of $720,000 and $768,000 to Hong Kong, according to MRA […]
The new tax on internet data traffic and phone text messages (SMS has come under fire from Members of Parliament who have said it’s retrogressive during their debates on the 2015/16 national budget in the capital Lilongwe. Finance Minister Goodall Gondwe announced the new tax measure in his budget statement. Karonga South MP Malani Mtonga ( Peoples Party) said […]
Malawi government is being pressed to scrap a planned tax on internet data traffic and and phone text messages (SMS). The opposition and Civil Society Organisations (CSOs) asked government to drop its plans, warning that increasing the cost of web usage would be retrogressive for the developing nation. Minister of Information Kondwani Nankhumwa has also reportedly cautioned Finance Minister Goodall […]
In my recent article published by Nyasa Times I pointed out that according to the Minister of Finance tax revenues will grow by mere 2% in 2015/2016 from K581billion in 2014/2015 to K592billion in 2015/2016. This is likely to be the lowest growth of tax revenue since 1964 when Malawi became an independent nation. In […]