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MRA and NBM conclude Joint Workshops on very high note

MRA and NBM conclude Joint Workshops on very high note

The Malawi Revenue Authority (MRA) and National Bank of Malawi (NBM) have concluded joint meetings with SMEs which covered all the country’s three regions.

The meetings were rounded up on a very high note at Denis Catholic School in Rumphi with the presence of the bank’s Chief Executive Officer Mr. Mc Fussy Kawawa who was the guest of honor.

Over 150 SMEs from within and around Rumphi Boma were in attendance.

In his opening remarks, Kawawa expressed his gratitude to see that many SME’s attended the workshop.

“I am aware that SMEs are the engine of the country’s economy and that is why the Bank and MRA, our partner, values you so much” he said.

Kawawa added that the bank expects good business plans with a good vision for them in order to access various loans facilities and boost their businesses.  He added that when taxpayers keep business records, it is easy for them to meet tax obligations and avoid tax penalties.

The bank made presentations on their various products such as the Fiesta Account, different types of loans and the newly launched MO626 Digital, among others products. NBM also made a presentation on how to prepare a good business plan.

On her part, Nancy Mwale, Manager Taxpayer Service, expounded on the importance of registering for taxes, keeping records and how taxes like PAYE, WHT and VAT are operated and administered.

“When you register for tax, you do your business freely and at the same time you contribute to the development of our country, said Mwale adding that when you are compliant MRA can also consider giving you a Tax Clearance Certificate (TCC) that will enable you compete for public tender. She, therefore, warned the SMEs against tax evasion or fraud and said that anybody caught will be punished in accordance with the law.

Concluding the workshop, Kawawa expressed his gratitude to the MRA team which comprised Mwale, Charles Maleta and Hilda Mkandawire. He said that MRA’s presence at the function was a clear testimony that the two organizations were indeed partners in development and it was his wish that the bond of cooperation should continue to grow.

By Hilda Mkandawire

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