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Over 1,000 taxpayers take part in VCW

Over 1,000 taxpayers take part in VCW

The Malawi Revenue Authority (MRA) says it has to date received 1,176 applications for the Voluntary Compliance Window (VCW).

 

Briefing the press on Wednesday, 21st October 2020, at Msonkho House in Blantyre, MRA Head of Corporate Affairs, Steven Kapoloma, appealed to all non-compliant taxpayer to submit their applications before the window closes on 31st October 2020.

 

“At the moment, 1,176 applicants have submitted their applications to MRA and over 180 of these have had their applications approved. Out of the approved applications, the Authority has collected over K4.65 billion. We, therefore, expect that after we have processed and approved all the applications, the Authority will collect over K12 billion.

 

“MRA would, therefore, like to thank the taxpayers who have taken part in the window and fully benefited from the facility. We expect them to continue complying with the tax laws long after the window is closed,” Kapoloma appealed.



He emphasised that MRA is in the process of inculcating a culture of voluntary tax compliance among the business community and this can only be achieved if they continue and operate their businesses in line with the tax laws.

 

On this note, he warned taxpayers who are eligible to take part in VCW but have not done so that once the window is closed, MRA will intensify inspection, audits and investigations in order to track and apprehend tax evaders. He said when caught, such people will be punished accordingly.

 

Taking his turn, MRA Director of Policy Planning & Research, Dr. Waziona Ligomeka, assured the business community that all their applications submitted before the closing date will be processed and those who qualify will have their penalties, interest and other charges waived.

 

Eligible applicants can apply by completing a VCW application form accessible on our website www.mra.mw. Completed forms can be uploaded right there on to the website or sent to email address: vcw@mra.mw or personally collect and submit their applications at any MRA office nearer to them.

 

All applicants are supposed to attach supporting documents to their application like tax returns, income statement, notice of assessment, tax schedules and Form C132 for Customs to enable MRA conduct proper assessment of the tax liability.

 

VCW was introduced by the Government to provide relief to business people who have been economically affected by the Covid-19 by allowing them to pay tax arrears through instalments without paying penalties, interest or any other charges. It rolled out on 8th April and closes on 31st October.


BY HENRY MCHAZIME



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