Tax return filing workshops underway
One crucial aspect in tax revenue administration is tax filing. If not properly done, it distorts the whole objective of collecting correct amounts of taxes. On the other hand, a taxpayer’s obligation is legally incomplete if they fail to compile and submit tax returns.
This is the main reason that the Malawi Revenue Authority (MRA) has embarked on conducting Taxation Workshops where taxpayers will be expertly drilled on proper compilation and submission of tax returns.
The exercise has started in Blantyre this week on Tuesday May 22 and it will run up to May 31 2018 targeting large taxpayers in the three cities of Blantyre, Lilongwe and Mzuzu.
During the first session attended by entities from various sectors in Blantyre, MRA’s Manager for Taxpayer Service, Enoch Hapala gave a detailed outline of how organisations should complete their tax returns for Withholding Tax, Non-Resident Tax, Value Added Tax (VAT), Fringe Benefit Tax Pay as You Earn (PAYE) and the Tevet Levy.
“There is need to correctly provide information as the forms demand. It is always practical to submit these tax returns before the due date and not wait until the actual day. There is convenience in complying earlier. This should also always be applicable for tax payments.
“Our goal, as MRA, is to see you focus on growing your businesses and not to be running around sorting out fines because you are on the wrong side of the law,” said Hapala.
Among various queries and questions from organisations that were in attendance, Shoprite’s Divisional Financial Manager Louis Els appealed for an electronic platform where taxpayers can easily submit returns.
“We commend MRA for starting the E-Payment system. It is very easy to access and has proven convenient to many of us when paying our due taxes. The E-Payment system is effectively running, can’t you consider providing us with an electronic tax return filing system?” said Els.
In response, MRA Manager for Taxpayer Education McHizzal Kawanga said the Authority is at an advanced stage to implement the Msonkho Online to compliment E-Payment
“Msonkho Online was previously known as the Integrated Tax Administration System (ITAS). It will be implemented very soon and one of the components is to enable submission of tax returns electronically. We, therefore, assure you and the general public that necessary communication will duly be made once this all-encompassing system is up,” said Kawanga.
Taxpayers who fail to meet their obligation to compile and submit their tax returns stand to be penalised with fines of over K300, 000 and interests ranging from 5 to 20 percent from the due month onwards.
The workshops are also focusing on Provisional Tax declaration requirement, Non-Resident Tax, VAT on imported services and the calculation of Tevet Levy including areas of interest from the taxpayers.
BY HENRY MCHAZIME
USD - 1751
GBP - 2264.33 
ZAR - 97.42 
EUR - 1944.21
CAD - 1280.63 
JPY - 11.39 
AUD - 1159.68
