Friday, August 12News That Matters

MRA To Meet the K1.5 trillion target in the 2022/23 financial year

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In the picture: Biziwick (L)

Malawi Revenue Authority-MRA Commissioner General John Bizwick is hopeful that the tax institution will meet the K1.5 trillion target in the 2022/23 financial year following the introduction of various strategies.

Among other strategies Bizwick reveals widening the tax band through block management system, optimising resources allocation, enhancing tax-payer education and strengthening integrity among staff members.

Addressing the media in Blantyre, the MRA chief has revealed that in the 2021/22 financial year, the tax collecting institution failed to achieve a 100% performance rate, with a negative variance of K73 billion, representing 92.87%.

He however says they managed to achieve a nominal growth of 19 % as compared to the year 2020/21.

He attributes the under collection to the Covid pandemic disruptions, forex shortage which affected trade taxes and delayed payments by some government agencies parastatals.

On strengthening corporate image, MRA plans to continue engaging various stakeholders such as legislators, donors, media and intermediaries, enhance corporate social responsibility and branding initiatives.

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