The Malawi Revenue Authority (MRA) is reminding valued
taxpayers to honour their obligations by submitting tax returns and paying
taxes due in the month of February 2020. The tax returns and payment due dates
are as follows:
Pay As You Earn 14th February, 2020
Withholding Tax 14th February, 2020
Domestic Excise 20th February, 2020
Turnover Tax 20th February, 2020
Value Added Tax 25th February, 2020
Income tax 29th February, 2020 (Accounting date 31st August)
The Authority is reminding all employers that Tevet Levy for the year 2019/20 is due on the 1st July, 2020. 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. 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.
Kindly, note that you can submit your tax returns at your nearest Domestic
Taxes offices and Customs & Excise stations at Chitipa, Nsanje, Mwanza,
Liwonde, Chiponde and Muloza. Please, note that failure to submit a tax return
when due is an offence punishable by the VAT Act and the Taxation Act.
Tom Gray Malata