‘Tax evasion costing Malawi millions’
President Peter Mutharika has said Malawi is losing a lot of money through tax evasion and his government will put up mechanisms to halt such malpractice which he said is crippling the economy and development of the country.
Mutharika made the remarks on Thursday during a development rally at Luwerezi in Traditional Authority (T/A) Khosolo in Mzimba.
He said government is aware of other foreign investors who evade paying taxes and externalise forex.
The President said Malawi has potential to do better economically if people and other investors in the country honoured their taxes.
“I am aware that some people evade tax and they also take forex outside the country, which is very bad for our country’s development. My government will ensure that this malpractice is dealt with accordingly,” said Mutharika.
He also hinted on the importance of a new Mines and Minerals Act amendment, saying Malawi has a lot of minerals it is not benefitting from.
Mutharika said the next sitting of Parliament should pass the law to ensure that the minerals are positively contributing to the development of the country.
Commenting on the depletion of Chikangawa Forest, Mutharika said his government is aware that licenses were being dubiously awarded, mostly to foreign nationals,which denies the local citizens benefits from their natural resources.
The President also spoke on hunger and assured people of Malawi that his government is leaving no stone unturned in its efforts to ensure no one dies of hunger.
Mutharika said government is buying one million metric tonnes of maize from both in and outside the country for all Malawians to have enough food this year.
