MRA ENCOURAGES SMEs TO REGISTER FOR INDUSTRIAL REBATE SCHEME

The Malawi Revenue Authority (MRA) has encouraged Small and Medium Enterprises (SMEs) that are involved in manufacturing to register for industrial rebate scheme and enjoy concessionary tax rates.

The call was made by Manager Taxpayer Education, McHizzal Kawanga, during sensitization meetings that the Authority organised with SMEs in Mangochi and Salima.

Kawanga said the industrial rebate scheme is intended to enable registered small-scale industries whose annual turnover is below K50, 000, 000 to import raw materials without paying some taxes such as import duty or import excise duty.

He observed that for so long, SMEs have had challenges to import raw materials for value addition. This is because they were subjected to all taxes at the border.

“’But with the introduction of the industrial rebate scheme where some taxes will be waived, they stand a better chance to grow or expand their businesses,’ added Kawanga.

In his presentation during the meetings, Kingsley Chibwana, Customs Manager Industrial Rebate Scheme, informed the participants that one can register by filling Form Number 81. He/she should accompany the form with a covering letter to the Commissioner General together with a valid Tax Clearance Certificate (TCC).

MRA in partnership with Standard Bank and Small and Medium Enterprise Development Institute (SMEDI) conducted the sensitization meetings.

 

 BY EDGAR MPELEPELE