MRA brings out Tevet online portal at ICAM

Multitudes of professional finance practitioners attending the annual conference of the Institute of Chartered Accountants in Malawi (ICAM) were introduced to a step-by-step process of the newly established TEVET Levy Assessment System (TLAS) online portal by Malawi Revenue Authority.

MRA collects TEVET Levy on behalf of the Technical, Entrepreneurial and Vocational Education and Training Authority (TEVETA), a task that was operationalised from 1^st November, 2015 following the signing of a Memorandum of Understanding between the two organisations.

In his presentation at the ICAM conference, MRA ICT Systems Analyst Masia Walita said the online portal comes in to avert various challenges encountered by both TEVET Levy payers and MRA when it comes to timely submission of Employer Data Forms.

“Delayed and inaccurate submission of Levy returns affects compliance with Levy regulations. This has brought complications when it comes to tracking outstanding balances and liabilities, leading to inefficiencies in financial management for Levy payers,” he said.

Walita, who is also the ICT Technical Lead for Tevet Levy, demonstrated that the TLAS portal provides an online platform for easy and timely submission of Employer Data Forms as it consolidates liabilities and payments, tracks outstanding balances, generates and exports payment records.

“From 1^st November this year 2024, everyone should be assured that platform is up and running, fully integrated with MRA e-payment system for easy generation of Tevet Levy PRNs.

“There are various benefits to Levy payers since the TLAS portal enhances compliance with Levy return requirements, offers clear visibility into financial obligations and improves financial planning and management,” said Walita.

He emphasised that both TEVETA and MRA are now guaranteed of accurate financial records and higher compliance rates and the new system also streamlines Levy submission and payment processes.

The conference was advised that full compliance of Tevet Levy will now be a prerequisite for all taxpayers to obtain a Tax Clearance Certificate (TCC) as well as a Tax Exemption Certificate (TEC).

ICAM membership have since welcomed the TEVET Levy Assessment System (TLAS) online portal, stressing that it will ease their work by easily tracking compliance records.

 

BY HENRY MCHAZIME