Business people want MRA to open voluntary tax compliance window

Business people in the country are demanding that the Malawi Revenue Authority (MRA) opens the voluntary tax compliance window in view of the raging Covid-19 pandemic.

However, MRA is downplaying the calls from the business sector.

Some revenue experts and business people say the opening of the voluntary tax compliance window would boost tax revenue especially now as the Covid-19 is affecting revenue collection.

Chief Executive Officer of the Institute of the Chartered Accountants in Malawi (ICAM) Francis Chinjoka Gondwe recently told Capital FM that there is a threat that the 2020-2021 budget might fail to deliver because of the diminishing revenue.

Gondwe recommended several ways that could boost revenue collection, including reopening the window to allow tax-payers settle tax arrears without penalties.

However, MRA’s Head of Corporate Affairs Steve Kapoloma said that they do not have plans to reopen the window, arguing businesses were given enough time to utilise it.

Source: Nyasa Times