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Malawi Revenue Authority beats October target by K7.8 billion

Malawi Revenue Authority (MRA)

BLANTYRE-(MaraviPost)—After beating the August and September targets by k6.2 billion and K6.6 billion, the Malawi Revenue Authority (MRA) has also made a record in October revenue collections by surpassing the target with K7.8 billion.Speaking at Briefing news organisations at Msonkho House in the commercial city of Blantyre, MRA Deputy Director of Corporate Affairs Steven Kapoloma said  MRA has registered a total collection of K71.8 billion against a target of K64 billion.

“This represents a 12 percent surplus. 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,” said Kapoloma.

He said the 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.

According to Kapoloma, the tax body’s incredible performance is due to Public Sector Reforms which the MRA embraced, staff commitment and dedication to work.

 “Notably Value Added Tax (VAT) collections have increased confirming that 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. This will ensure that VAT is well account for,” he said.

Kapoloma further appealed to all taxpayers to cooperate as the 2016/2017 fiscal year progresses.

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