By Wezzie Gausi:
The Malawi Revenue Authority (MRA) has pledged continued support towards agriculture sector growth through tax incentives.
This follows the launch of a booklet on agricultural transformation by the government.
In an interview, MRA spokesperson Steve Kapoloma said farmers need to know about tax incentives to boost their ventures.
He said MRA is ready to work with players in the sector for increased export-base and contribute to growth.
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“These incentives do not affect how MRA collects tax because they have always been there in the Taxation Act. It is now our duty to make these incentives public.
“We are open to work with farmers at all levels for them to understand what to do and benefit from such incentives,”Kapoloma said.
Minister of Agriculture Sam Kawale said financial institutions have tailored products specifically for agri-prenuers, offering terms that recognise the unique challenges and timelines of agricultural ventures.
He said these products provide the liquidity needed to nurture agricultural ventures from inception.
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“Beyond traditional banking solutions, public sector financing and grants stand as a testament to our commitment to agriculture.
“These opportunities offer more than capital; they provide a network of support that includes expertise, resources and shared vision for success,”Kawale said.
Kawale said the incentives are beneficial to the country.
