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Taxpayers urged to update their details

Taxpayers urged to update their details

Taxpayers in Malawi have been urged to update their details with the Malawi Revenue Authority (MRA) as the tax administration embarks on a Taxpayer information update Drive ahead of the roll-out of Msonkho Online.

MRA announced at a press briefing at Msonkho House on Wednesday that taxpayers, both individuals and organisations, must update their details by filling forms and submitting them online or at its offices across Malawi.  

Director of ICT Max Mlomba told journalists that MRA has dedicated staff to update taxpayers’ database through a Know Your Customer (KYC) exercise starting on 6th March, 2019 until 31st May 2019.

“What we are launching today is another milestone in our drive towards modernization. We are collecting fresh details from taxpayers so that we update our database,” Mlomba said.

Mlomba said there are two KYC forms, one for individuals and the other for organisations, and they can be downloaded from the MRA website, www.mra.mw, or collected from any MRA office. 

“If you visit the MRA website you will see a gold label on the home page and you will see the words Know Your Customer (KYC) and there are two options, individual and organization. You can download the form and print it or you can fill in online. 

“You can submit the filled form by uploading it on the website or emailing it to kyc@mra.mw or you can submit the form physically to any MRA office. Taxpayers can also visit MRA offices, fill the forms and submit them,” he said.

The ICT Director said the Authority has deployed 100 members of staff across Malawi who will be visiting taxpayers to assist them to fill and complete the forms.
 
During the KYC exercise, taxpayers will be required to fill simple details like trading names, business addresses, contact details, tax types, Taxpayer Identification Number (TPIN), bank details, mobile money accounts, branches and other details. 

The KYC exercise is designed to update taxpayer records ahead of the rollout of Msonkho Online, a modern computer system that automates end-to-end tax processes.

“We will be launching a new system by next year that will necessitate that all our transactions should be online. As such it will not be necessary to do business without those fresh details,” Mlomba said.

BY WADZA OTOMANI

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Know Your Customer (KYC) NEW

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