MRA drills SME's on Taxation
As one way of promoting voluntary tax compliance among different taxpayers in the country, the Corporate Affairs Division in consultation with the Domestic Taxes Division recently made a tax presentation to Small and Medium Enterprises (SMEs) in Kasungu and Ntchisi districts.
The meetings are part of a joint cooperation between the Malawi Revenue Authority (MRA) and National Bank of Malawi (NBM). The two organizations are currently meeting SMEs in different parts of the country to educate SMEs on various issues of taxation and on how to prepare basic profit and loss accounts.
In their opening remarks, Oswin Kasunda from NBM and Hilda Mkandawire from MRA said that SMEs need to learn more about taxation when operating businesses and that is why the two organizations organized the meetings. On this note, the two officials urged the participants to take the workshops very seriously.
Making her presentation on Domestic Taxes, Nancy Mwale, Manager Taxpayer Service, encouraged the participants to compile business accounts which will enable them to submit tax returns to MRA at the end of the accounting period.
She added that the business accounts will also enable them to know if they are making profits or losses and accordingly adjust the operation of their businesses.
The MRA team then finally assured the audience that MRA will continue engaging various business groups to enable them know about their tax obligations and rights.
The SMEs in the two districts requested MRA to continue providing civic education on taxes among them and improve customer care.
In Ntchisi, the participants urged MRA to consider opening an office in the district since Lilongwe and Kasungu offices are very far away from them.
The two workshops attracted about 300 SME’s with an average attendance of one hundred and fifty for each.
By Hilda Mkandawire