The Malawi Revenue Authority (MRA) is reminding all taxpayers to fulfil their tax obligation by remitting taxes due in the month of June 2018, to the Authority. The following taxes are due this month:
Pay As You Earn (PAYE) is payable monthly. PAYE for May, 2018 is due by the 14th June, 2018
Withholding Tax (WHT) is payable monthly. WHT for May, 2018 is due by the 14th June, 2018
Domestic Excise is payable monthly. Domestic Excise for May, 2018 is due by the 20th June, 2018
Turnover Tax (TOT) is payable monthly. TOT for May, 2018 is due by the 20th June, 2018
Value Added Tax (VAT) is payable monthly. VAT for May, 2018 is due by the 25th June, 2018
Customs and Excise
Duty is payable upon importation of goods into Malawi. If goods are imported into the country through transit bond on Transit document 1 (T1) and kept in a temporary store, duty is due within 10 days from the day the goods were deposited in the Temporary Stores. Customs duties can also be paid prior to the arrival of goods at the border.
MRA further wishes to remind all taxpayers and the business community that it is their obligation and responsibility to come to MRA offices to settle tax liabilities by themselves. Any delay or failure to remit taxes would result in MRA asking for the taxes due plus penalties in accordance with the Law.
TOM GRAY MALATA