K100 Billion Lost Annually To Tax Evasion
Malawi Revenue Authority (MRA) says it is annually losing an estimated K100 billion to tax evasion.
MRA commissioner general John Biziwick disclosed this in Mangochi yesterday during a 2023/24 New Tax Measures Media Training of members of the Association of Business Journalists.
He said already, the public tax collector is dealing with tax evasion cases in excess of K60 billion.
Biziwick said: “When we look at the figures which are coming from investigations we undertake now and then, they are huge. This is tax evasion from under-declaring of imports, over invoicing of exports but also for taxpayers who have not met value added tax, income tax and other tax obligations.
“All this money ends up as foreign exchange somewhere. No wonder some of the forex challenges we are having....
