Page 33 - THE 2024-25 MID-YEAR BUDGET REVIEW STATEMENT

Madam Speaker, the other revenue measures include the

following:

ii. Full Implementation of Electronic Excise Tax Stamps.

Madam Speaker and Honourable Members, you may

have noticed small yellowish stickers on products such as

bottled water. These are what we are calling “electronic

tax stamps”. They are designed to help the Malawi

Revenue Authority (MRA) verify whether excise tax has

been paid on excisable goods, such as alcoholic

beverages, cigarettes, soft drinks, and bottled water.

Madam Speaker, we firmly believe this initiative will decisively

tackle smuggling and tax evasion. However, some operators

have resisted its implementation, largely to continue with

illegal activities. Let me emphasize that this system is here to

stay. I, therefore, want to encourage all traders dealing in

excisable goods to immediately register with the MRA and

start using the tax stamps. Those who fail to comply risk having

their goods confiscated from the market.

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