The Malawi Revenue Authority (MRA) has beaten its revenue target as it has collected K553.58 billion between October 2022 and January this year.
This is according to Commissioner General of the revenue authority John Biziwick who was speaking on Wednesday February 15th during a media briefing which was held at Msonkho house in Blantyre.
The MRA boss told journalists that the authority set K547.06 billion as the revenue to be collected from October 2022 to January this year but has since collected K553.58 billion, beating the target by K6.25 billion.
Biziwick indicated that during the third quarter of 2022/2023 financial year which runs from October to December 2022, the tax collector missed its target by K4.73 billion after collecting K391.89 billion from a target of K396.63 billion
He, however, said in January 2023, which was the first month of the fourth quarter of the 2022/2023 financial year, MRA made a surplus of K16 billion, as it has collected K161.6 billion from a target of K145 billion.
While complaining about intermittent power supply which he said has negatively affected the authority, Biziwick also attributed the exceeding of the January target to improvement in fuel importation.
“Intermittent power supply, delays on the implementation of tax stamps and delays in remittances by government, ministries, departments and agencies negatively affected our revenue performance,” said Bizwick.
The commissioner also cited hardworking amongst MRA staff as another contributing factor of the excess revenue collection.
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