Register for tax now to enjoy duty free week-MRA

The secret is now out!

One only requires tax registration to enjoy the much anticipated duty free week which Government is expected to announce anytime from now, the Malawi Revenue Authority (MRA) has said.

The development follows a recent announcement in Parliament by the Minister of Finance Honourable Felix Mlusu. During the National Budget presentation, the Minister said Government will boost the growth of small businesses and reinvigorate the economy suffering from the effects of Covid-19 pandemic by introducing a duty-free week for imports not exceeding US$3,000.

MRA Head of Corporate Affairs Steven Kapoloma and Blantyre Press Club president Blessings Kanache during the official opening ceremony

The Finance Minister told Parliament that taxpayers will benefit from the duty free week facility once a year and that the dates for the week will be gazetted within the 2021/2022 financial year for taxpayers to prepare and benefit from it.

In his presentation on Tuesday 3^rd August 2021 to a Southern Region session of the 2021/2022 New Tax Measures Media Training with members Blantyre Press Club, MRA Head of Corporate Affairs Steven Kapoloma stressed that all those to benefit from the duty free week must have a Taxpayer Identification Number (TIN) obtained after registering with MRA.

 

“Registering for tax with MRA is free of charge and it is now being done conveniently electronically using our Msonkho Online system available on our website www.mra.mw. What is required is that to have all your details especially the national identification card which is a must requirement

“We are making this process more flexible and anyone who may need prompt assistance can call MRA using Toll-Free Line 672 which is our Call Centre and people there are being rightly assisted. So do not hesitate and register now in readiness for the duty free week,” said Kapoloma.

He said the duty free week is Government’s investment to grow small scale businesses while widening the tax base.

“Many will agree that US$3,000, which is around K2.5 million, is a substantial amount that has maximum potential to sustainably grow more players in the SMEs sector. Therefore, this will allow most individual businesses and SMEs to exercise their main role to pay domestic taxes in the medium to long terms,” Kapoloma said while emphasising that imported goods should not exceed the US$3,000 mark.

He added that during the duty free week border taxes will be exempted on all goods, including motor vehicles and that only a processing fee of K15,000 will be payable.

The training with members of Blantyre Press Club had various presentations ranging from Revenue Performance for the 2020/2021 Fiscal Year, New Tax Measures, Msonkho Online, Block Management System, Advanced Income Tax, Presumptive Tax, Dealing with Smuggling and Conveyance, Tax Administration Bills and Revenue Appeals Tribunal Bill.

It was offered by an MRA delegation comprising Deputy Commissioner Domestic Taxes—Operations Janet Kholowa, Head of Corporate Affairs Steven Kapoloma, Legal Services Manager Mrs Lydia Sauti Phiri and MRA Media Specialist Henry Mchazime.

Blantyre Press Club president Blessings Kanache applauded MRA for empowering Journalists with more tax knowledge which he said the club’s membership will use when pursuing tax stories and generating media content.