By Justin Mkweu:
Illovo Sugar Malawi has said it has contributed over K126 billion in taxes in its financial year ended August 31, 2026.
Last week, the firm committed K52.6 billion as final part payment of its tax obligation for the year under review, where Illovo Sugar Malawi Managing Director Ronald Ngwira paid a symbolic cheque to MRA Commissioner General Felix Tambulasi.
Ngwira said the contribution is a testament of how the private sector can help in developing the economy.
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Ngwira emphasised the importance of responsible citizens and the corporate world when it comes to tax compliance in the country.
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“Not just corporate entities, but all companies and individuals should honour tax obligations on time. It may not always be easy but we need to strive for that and, as Illovo Malawi, we take tax compliance [issues] seriously,” he said.
In an interview, Tambulasi hailed the company for what he rated as being tax compliant, emphasising the importance of paying tax as the country utilizes domestic revenue mobilisation.
He called on other entities to publicly demonstrate tax compliance to the public, saying it serves as an example.
“It is not only this year, but all the years, Illovo has always been forthcoming in being tax compliant and, at the same time, doing so publicly, which is encouraging to us,” Tambulasi said.
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Among the taxes paid are K51 billion Value Added Tax, K25 billion Corporate Income Tax, K19 billion Pay As You Earn, and K15 billion excise and import duties.
