The Malawi Revenue Authority (MRA) is reminding all valued taxpayers to remit taxes due in the month of August 2018, to the Authority. The taxes due are as follows:
Domestic Taxes
· Pay As You Earn (PAYE) is payable monthly. PAYE for July 2018 is due by the 14th August 2018
· Withholding Tax (WHT) is payable monthly. WHT for July 2018 is due by the 14th August 2018
· Domestic Excise is payable monthly. Domestic Excise for July 2018 is due by the 20th August 2018
· Turnover Tax (TOT) is payable monthly. TOT for July 2018 is due by the 20th August 2018
· Value Added Tax (VAT) is payable monthly. VAT for July 2018 is due by the 25th August 2018
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.
Tevet Levy
The Authority is reminding all employers that Tevet levy for the year 2017/18 was due on the 1st July 2018. Failure to remit the levy by the due date attracts 20% of the unpaid amount.
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 remit the taxes would result in MRA requesting you to pay the taxes due plus penalties in accordance with the Law.
Tom Gray Malata
COMMISSIONER GENERAL