Friday, February 26, 2021
  • About Us
  • ImagiNATION
  • Adverts
  • Rate Card
  • Contact Us
The Nation Online
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home Business Business News

MRA attributes target achievement to compliance

by Grace Phiri
21/07/2017
in Business News, Editors Pick
2 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

Voluntary tax compliance helped Malawi Revenue Authority (MRA) to beat its target for the 2016/17 fiscal year by K42.56 billion having collected K767.61 billion, its commissioner general Tom Malata has said.

In a statement, Malata said all the tax lines, namely corporate tax, pay as you earn (Paye), withholding tax, provisional tax, value added tax (VAT), import duty and exercise duty performed above expectation.

RelatedHeadlines

Firm rues business operating environment

Energy firm blames Covid-19 for projects delay

Maize price cushions households

mra | The Nation Online
Msonkho House in Blantyre, which houses MRA offices

He said: “The exceptional performance is on the account of voluntary tax compliance by taxpayers who honoured their tax obligations by paying taxes due in full and on time.

“Taxpayers also responded well to various modernisation initiatives which MRA has been championing to improve taxpayer services and reduce the cost of compliance.”

Malata said companies, individuals and the public were also supportive towards their enforcement programmes to curb tax fraud, tax evasion and smuggling.

Tom Malata | The Nation Online
Malata: Taxpayers responded well

He encouraged businesses who failed to pay their taxes due to “some genuine reasons” to engage the tax agency on the best way to address their tax obligations as required.

In the 2017/18 fiscal year, MRA is projected to collect K918 billion.

Earlier, Minister of Finance, Economic Planning and Development Goodall Gondwe said government has developed policies to improve administrative efficiency, encouraging tax compliance and broadening the tax base to generate adequate domestic resources.

“In the just ending fiscal year, the Malawi Revenue Authority has demonstrated an exceptional performance by collecting tax revenues beyond our estimates. We are optimistic that the exceptional performance demonstrated in the last fiscal year will continue in the 2017/18 fiscal year,” he said.

In an interview, tax expert Misheck Msiska said the increased projections for MRA means the agency is aggressive in collecting revenue.

“What that means is that government is going to increase domestic resource mobilisation so that they are in tandem with domestic tax needs to fund the budget. So, generally, every tax change is moving in that direction so that government is able to collect more to meet the budget demands,” he said. n

Previous Post

Poor economy affects savings—economists

Next Post

Govt misses July 20 tombstone unveiling

Related Posts

Production in process at Castel Malawi
Business News

Firm rues business operating environment

February 25, 2021
Gustav Droege: We have faced travel restrictions
Business News

Energy firm blames Covid-19 for projects delay

February 25, 2021
Maize prices continue to decline on the market
Business News

Maize price cushions households

February 25, 2021
Next Post
Chakwera lays a wreath as Moses Mkandawire (R) of Livingstonia Synod Church and Society looks on

Govt misses July 20 tombstone unveiling

Opinions and Columns

My Turn

On Covid vaccine liability

February 25, 2021
In pursuit of development

The Chinese approach to network-building

February 25, 2021
Business Unpacked

Back to the drawing board on budget

February 25, 2021
Rise and Shine

How do successful people think?

February 25, 2021

Trending Stories

  • Vokhiwa | The Nation Online

    Censorship Board acts on ‘Aunt Nellie’ videos

    0 shares
    Share 0 Tweet 0
  • Inside k6.2bn

    0 shares
    Share 0 Tweet 0
  • K780M Dodma Covid-19 feast

    0 shares
    Share 0 Tweet 0
  • Student’s rape case attracts CSOs attention

    0 shares
    Share 0 Tweet 0
  • Admarc secures K430bn to revamp operations

    0 shares
    Share 0 Tweet 0
  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2021 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.