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Malawi Revenue Authority beats August target by K6.2 billion

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The country’s tax collection body, Malawi Revenue Authority (MRA), says it has beaten its set revenue target for the month of August by K6.2 billion.

This is the third time in a row that MRA has managed to beat its target after a poor performance for almost six months.

MRA Deputy Director for Corporate Affairs, Steven Kapoloma, said the authority has registered a total collection of K58.8 billion against a target of K52.6 billion representing 112 percent performance.

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“For this fiscal year, the authority has collected K121 billion against a projection of K112 billion, registering an excess collection of K8.8 billion.

“The remarkable performance is on account of strong collections in pay as you earn, value added tax, provisional tax, excise duties, fringe benefit tax, dividend tax and non-resident tax,” he said.

Kapoloma also attributed the positive development to taxpayers’ commitment in paying their dues.

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“We thank taxpayers who voluntarily come forward to pay their taxes on time for their compliance. This has been witnessed in the improved collection for the three consecutive months. The tax base is widening and we are optimistic that this progress will continue.

“MRA would, therefore, like to appeal to all compliant taxpayers to continue remitting their taxes in the 2016/17 fiscal year to enable the government achieve its goals, more especially now when there is limited external donor support,” said Kapoloma.

He further said MRA is undertaking several revenue enhancement initiatives to provide modern and efficient services aimed at reducing the cost of tax compliance while maximising revenue collection.

“The remarkable performance in August is attributed to increased compliance by taxpayers owing to robust modernisation initiatives, increased enforcement and taxpayer engagement activities.

“These efforts have also registered successes in countering non-compliance, tax evasion and smuggling,” said Kapoloma.

He also said MRA is also rolling out Asycuda World system which is online and offers speed and convenience as it allows electronic clearance of goods from anywhere in the world.

MRA also introduced an inland examination centre in Lilongwe , where importers and exporters are getting speedy and efficient cargo clearance thereby reducing congestion at the borders.

“All these efforts are designed to assist taxpayers meet their tax obligation with ease,” he said.

The August collection follows back-to-back positive performances in June and July.

In June, MRA collected K56.1 billion beating the projected target of K54.3 billion by K 1.8 billion and in July, the taxmen collected K62.5 billion against a projected target of K59.6 billion exceeding the target by K2.9 billion.

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