The Malawi Revenue Authority (MRA) is reminding valued taxpayers to honour their obligations by paying taxes and submitting tax returns due in the month of August 2021. The payment and return submission due dates are as follows:
TAX TYPE DUE DATE
Pay As You Earn 14th August, 2021
Withholding Tax 14th August, 2021
20th August, 2021
Turnover Tax 20th August, 2021
Value Added Tax 25th August, 2021
31st August, 2021 (Accounting date 28th
Pay As You Earn (PAYE), 14th August, 2021. Should be accompanied by Form P12 and P12A
Withholding Tax, 14th August, 2021. Should be accompanied by forms WTF1 & 2
Domestic Excise, 20th August,
2021. Should be accompanied by Form 32 for goods and Form 32A for services
Turnover Tax , 20th August, 2021. Should be accompanied by TOT return
Value Added Tax, 25th August, 2021. Should be accompanied by form VAT3
Income tax, 31st
August, 2021 for all those taxpayers whose accounting date is 28th
August. Should be accompanied by ITF1 for sole traders or partnerships and
ITF12 for limited companies
The Authority is reminding all employers that Tevet Levy and Employers’ Data Form for the year 2019/20 was due on 1 July 2021. Failure to remit the levy by the due date attracts 20% of the unpaid amount.
CUSTOMS & EXCISE
Duty is payable upon importation of goods into Malawi. If goods are imported into the country through transit bond on Transit document 1 (T1) and kept in a temporary store, duty is due within 10 days from the day the goods were deposited in the Temporary Stores. Customs duties can also be paid prior to the arrival of goods at the border.
REMINDER TO ALL TAXPAYERS AND THE BUSINESS COMMUNITY
MRA further wishes to remind all taxpayers and the business community that it is their obligation and responsibility to settle their tax liabilities on time. Any delay or failure to settle taxes results in penalties in accordance with the Tax Law.
Kindly, note that tax returns can be submitted at the nearest Domestic Taxes
offices across the country and at Customs & Excise stations at Chitipa,
Nsanje, Mwanza, Liwonde, Chiponde and Muloza. Failure to submit a tax return
when due is an offence punishable by the Taxation VAT Act and the VAT Act.