Malawi Revenue Authority (MRA) has said it is working on finding solutions to complement local revenue mobilisation amid business slowdown due to coronavirus outbreak.
The continued global outbreak of the virus, which causes a disease called Covid-19, has left most borders closed and travel restrictions across the globe.
The revenue collection body which already has been struggling to hit revenue collection targets, says it is looking at loose points, to ensure that revenue is recovered.
Speaking in an interview on the sidelines of a tour to the Mwanza border earlier this week, MRA spokesperson, who is also head of Corporate Affairs Steve Kapoloma said a study to contextualise the impact and possible solutions to minimise the risk in underway.
“Among others, we are looking at issues for instance if trucks are not coming in the country, this means raw materials are not being delivered to the local industry and companies are scaling down. In such a scenario, we are looking at where else we can get the revenue and not just focusing on customs,” he said.
Meanwhile Employers Consultative Association of Malawi (Ecam), an apex body representing employer interests, has asked government to consider reviewing tax and other policy measures in the fight against Covid-19 for business survival.
Ecam executive director George Khaki said in the likely event of a lockdown, government should find ways and means of compensating employees and suspended pay-as-you-earn (Paye) within that period as this reduce the liquidity burden on employers and enable payment of wages.
Professor of Economics at Chancellor College Ben Kalua has described the coronavirus pandemic as a “single biggest issue” as the economy may be crippled through massive business disruption.