Opposition People’s Party (PP) has warned the Peter Mutharika government that its members of parliament will not accept measures aimed at hurting the impoverished to finance the national budget, saying the “privileged sector” should be targeted for punitive taxes. Speaker of the National Assembly Richard Msowoya announced that the first budget session of Parliament for […]
Malawians will have a cheer from the national budget due to be presented next months as government plans to reduce import duty on cars by 22 percent, Nyasa Times understands. If the proposal sees the light of day, Finance Minister Goodall Gondwe will present it in the national budget during the parliament sitting scheduled to […]
The High Court in Blantyre has dismissed fears by some VAT operators that the implementation of Electronic Fiscal Devices (EFDs)—an advanced version of an electronic cash register -will cause loss of businesses. The Malawi Revenue Authority (MRA) introduced EFDs in a bid to improve efficiency and effectiveness in the administration of value added tax (VAT)—a […]
Malawian UK based governance activist Ahmed Dassu has tipped Minister of Finance Goodall Gondwe to consider introducing ‘windfall tax’ collected from the two sectors of the economy, which has benefited most from government budgets – the successful bidders of contracts to supply the government going back to 1994 and the mining companies which exploit the country’s mineral […]
Malawi Government is looking towards implementing punitive tax measures in a bid to close the 2014/2015 huge budget deficit gaps emanating from the decision by its partners not to support the national fiscal plan. Following the aid drought which will result in certain sectors suffering during the implementation of the budget, government plans to broaden […]
Malawi Revenue Authority (MRA) has attributed the delay in civil servants salary payment as one of the challenges affecting its efforts in collecting Pay as You Earn (PAYE) tax. For the past two months, government has been delaying in paying civil servants thereby delaying in remitting taxes to MRA. The revenue-collector revealed in its monthly […]
Concerned business people in the country have obtained a court injunction stopping the Malawi Revenue Authority (MRA) from implementing the newly introduced Electronic Fiscal Devices (EFDs) as a collecting mechanism of Value Added Tax (VAT). MRA introduced EFD in March which required that all VAT operators should buy EFDs from licensed distributors. The injunction comes […]
As Malawi focuses on more economic growth after 50 years of political independence one of the country’s trade experts has urged the country’s small and medium enterprise (SMEs) to focus on value addition of various products with an aim to develop into large corporates. In separate stories published in the country’s two dailies of The […]
The Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has warned that the private sector would stop remitting tax to the Malawi Revenue Authority if President Peter Mutharika’s administration shows no financial prudence. MCCCI also expressed unhappiness with government’s unwillingness to deal cash cases which led to the withholding of 150 million dollars in […]
The United Democratic Front (UDF) torch bearer in the May 20 tripartite elections, Atupele Muluzi on Tuesday told the nation that by clearly and openly showing what the money realized through taxation has been used for, Government could regain confidence of the tax payers in the country who at the moment are said to doubt […]
The People’s Party (PP) will introduce a health levy with a supplementary charge of all alcohol and cigarettes to finance the procurement of medication drugs, the vice presidential nominee Sosten Gengwe has disclosed. Gwengwe made the disclosure during a live debate for running mates on Zodiak Broadcasting Service’s Question Time on Saturday evening. “We will […]
The Malawi Revenue Authority (MRA) has disclosed that it collected over K185.6 billion (about $431m) since July 2013, beating its half year target by about 20 percent. The 2013/14 budget projected a total tax revenues for the fiscal year of K328.1 billion (about $763m). The December 2013 tax outturn, however, indicates that between July and […]
A few days ago it was reported in an article on Nyasa Times that officials in Malawi’s Ministry of Environment and Climate Change management said that hiking excise duty levied on imported second-hand vehicles is helping the country to curb planet-warming emissions. The current taxation on cars includes an import duty of 25%, an excise […]
Blantyre Printing and Publishing (BP&P) the oldest print media house in Malawi, is at it again with the Malawi Revenue Authority(MRA) as the tax body is demanding K493 million accumulated through non payment of taxes. BP&P has several companies including Blantyre Newspapers Limited (or BNL Times Group) which publishes The Daily Times, Malawi News and The Sunday Times. […]
Malawi’s Civil Society Organizations (CSOs) that are promoting fair and better ways of using tax revenue will launch the Tax Justice Campaign on Friday, December 20, 2013 in Lilongwe. The CSOs will launch the campaign through a forum called the Tax Justice Platform, which is aimed at advocating for tax reforms so that corporate institutions, […]
Malawi Revenue Authority (MRA) has managed to collect tax revenue for the month of October amounting to K37.43 billion, representing 20.3 percent higher than the projection. The October generated revenue is 2.3 percent more than what the institution raised in September. In a detailed report seen by Nyasa Times, the tax-collector has released, reveals that […]
The Asian business community in Blantyre and Limbe has called on the Malawi Revenue Authority (MRA) to extend the Voluntary Compliance Window (VCW), saying three months is not enough to assess all their shortfalls. The tax collecting body opened VCW from November 1 2013 to January 31 2014 to enhance tax compliance by businesses. VCW […]
Business has come to a standstill at SIKU Transport after the public tax collector, the Malawi Revenue Authority (MRA), impounded close to 100 vehicles on Monday and Tuesday. The development follows the transport company’s failure to pay Value Added Tax (VAT) and Withholding Tax liabilities exceeding K856 million (about $2.1m). MRA officers accompanied by five armed camouflaged police […]