College students visit Msonkho House
The Malawi Revenue Authority (MRA) hosted Accountancy and Banking students from the International College of Business and Management (ICBM).
The team, led by a head of department and two lecturers visited, MRA Msonkho House Head Offices in order to learn more about taxation as part of their research studies.
Among other areas, the students wanted clarification on methods of collecting taxes, functions of taxes, Customs and Excise duty.
MRA’s technical officers, Denis Ndhlazi made a presentation on Customs and Excise while Martin Kasaila made a presentation on Domestic Taxes.
Kasaila covered various topics including administration of taxes, list of taxes administered by the Domestic Taxes Division and how they are calculated and return submission.
On the other hand, Ndhlazi presentation dwelt on procedures to follow when importing and exporting goods as well as calculation of duty, among other topics.
After the presentation, the students were keen to know more about industrial rebate, double taxation, taxation on timber and challenges encountered by MRA in the administration of Withholding Tax and Customs duty.
The college’s Head of the Accountancy Department, Madalitso Kaludzu expressed his gratitude to MRA for hosting them stressing that the knowledge imparted to the students would go a long way in helping them in their studies.
“Please convey our gratitude to the Commissioner General for this gesture. With this visit, our students and the lecturers have benefited a lot as the material learnt would greatly change their knowledge relating to taxation.,’’ said Kaludzu.
MRA presentation was part of a fully-fledged programme under which the Authority visit and make tax presentations to students with a view to inculcate a culture of voluntary tax compliance among the youths.