The Malawi Revenue Authority (MRA) has beaten the set revenue target for October 2016 by K7.8 billion after collecting K71.8 billion against a projection of K64 billion.
Speaking to the media in Blantyre, MRA Deputy Director of Corporate Affairs Steven Kapoloma said for this fiscal year, from July to October, MRA has collected K251.8 billion which is against a projection of K228.5 billion, registering an excess collection of K23.3 billion.
“This four months’ collection represents an increase of 30 percent compared to the same period last year. The revenue collected for the four months in 2015/16 fiscal year was K193.58 billion,” said Kapoloma.
He further said that this year’s remarkable performance for the four months is on account of the reforms championed by the Public Sector Reform Commission which MRA embraced coupled with enforcement measures, staff commitment, and dedication to work.
“Notably Value Added Tax (VAT) collections have increased and Electronic Fiscal Devices (EFDs) are also contributing a lot. The Authority therefore, calls on members of the public to take an active role in demanding fiscal receipts generated by EFDs every time they make a purchase as this will ensure that VAT is well accounted for,” he said.
Meanwhile, MRA is appealing to all taxpayers to be tax compliant as the 2016/17 fiscal year progresses. The authority said timely payments of tax will enable the Malawi Government achieve its development goals, more especially now when there is limited external donor support
MRA is also calling on those who have taxation challenges to engage the tax collector so that their tax affairs are regularised for the continued growth and development of Malawi.
The authority stressed that sustained improvement in tax collection is a direct result of tax compliant behaviour by taxpayers who continue to voluntarily come forward to pay their taxes on time.