Malawi Revenue Authority - REMINDER TO SUBMIT TAX RETURNS FOR JULY 2018

16 July, 2018
Henry Mchazime

REMINDER TO SUBMIT TAX RETURNS FOR JULY 2018

The Malawi Revenue Authority (MRA) is reminding all valued taxpayers to remit taxes due in the month of July 2018, to the Authority. The taxes due are as follows:

Domestic Taxes

Pay As You Earn (PAYE) is payable monthly. PAYE for June 2018 is due by the 14th July 2018

Withholding Tax (WHT) is payable monthly. WHT for June 2018 is due by the 14th July 2018

Fringe Benefits Tax (FBT) is payable quarterly. FBT for the fourth quarter is due by the 14th July 2018

Domestic Excise is payable monthly. Domestic Excise for June 2018 is due by the 20th July 2018

Turnover Tax (TOT) is payable monthly. TOT for June 2018 is due by the 20th July 2018

Provisional tax is payable quarterly. Provisional tax for the fourth quarter is due by the 20th July 2018

Value Added Tax (VAT) is payable monthly. VAT for June 2018 is due by the 25th July 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 also 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

Tags: Government