The Malawi Revenue Authority (MRA) is reminding all taxpayers to fulfill their tax obligation by remitting taxes due in the month of March 2018, to the Authority. The following taxes are due this month:
• Pay As You Earn (PAYE) is payable monthly. PAYE for February, 2018 is due by the 14th March, 2018
•Withholding Tax (WHT) is payable monthly. WHT for February, 2018 is due by the 14th March, 2018
•Domestic Excise is payable monthly. Domestic Excise for February, 2018 is due by the 20th March, 2018
•Turnover Tax (TOT) is payable monthly. TOT for February, 2018 is due by the 20th March, 2018
•Value Added Tax (VAT) is payable monthly. VAT for February, 2018 is due by the 25th March, 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 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.
The Authority would like to encourage taxpayers to use ePayments, an online tax payment platform, to settle their tax liabilities. Register for ePayments to pay Domestic Taxes but for Customs and Excise declarations, use the Payment Registration Number (PRN) generated in ASYCUDA World to pay online or over the counter at any bank. ePayments is convenient, eliminates queuing and ensures immediate update of your tax account and real time settlement of tax liabilities.
Tom Gray Malata