New tax measures awareness campaign underway
A national public awareness campaign on new tax measures for the 2017/2018 financial was rolled out on Friday, August 18, 2017 in Blantyre.
The campaign was inaugurated with a media workshop which provided journalists’ details of amended tax laws for the current fiscal year.
Some of the new tax measures include the removal of 16.5 percent Value Added Tax (VAT) on milk, edible fats and oils; introduction of 10 percent local excise on Television subscriptions; harmonisation of penalties; an increase of the tax free income threshold from K20,000 per month to K30,000 per month and an additional Pay As You Earn (PAYE) bracket of 35 percent for those earning over K3 million per month
In his address, MRA Head of Corporate Affairs Steven Kapoloma emphasised the importance of providing the media with first-hand information regarding taxes for effective dissemination to the general public.
“MRA is committed to provide the public with facts and the media is central. We would like more Malawians to know about the new changes on tax laws, that is why we have started this fiscal year’s new tax measures awareness meeting with members of the media,” Kapoloma said.
He said officials from MRA will conduct meetings across the country’s to sensitise businesses and members of the general public about the changes.
During the workshop, presentations on the new measures were made by Nancy Mwale from Domestic Taxes Division and Ephraim Munthali from the Customs and Excise Division. They two were accompanied by Enoch Hapala and Charles Maleta.
Journalists from the print, broadcast and electronic media attended the workshop.
BY HENRY MCHAZIME
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