Reminder to Remit Taxes Due in august 2014. Malawi Revenue authority is reminding all tax payers to fulfil their tax obligation by remitting taxes due in the month of August 2014, to the authority.
Taxes due are:
Domestic Taxes
●Pay As You Earn (PAYE) is payable monthly. PAYE for July, 2014 is due by the 14th August 2014.
●Withholding Tax (WHT) is payable monthly. WHT for July, 2014 is due by the 14th August 2014.
●Domestic Excise is payable monthly. Domestic Excise for July, 2014 is due by the 20th August 2014.
●Turnover Tax is payable monthly. Turnover Tax for July, 2014 is due by the 20th August 2014.
●Value Added Tax (VAT) is payable monthly. VAT for July, 2014 is due by the 25th August 2014.
Customs and Excise
Duty is payable upon importation of goods into Malawi. If goods are imported into the country through transit bond on Transit document (T1) and kept in a temporary store, duty is due within 10 days from the day the goods were deposited in the temporary stores.
MRA further wishes to remind all taxpayers and the business community that it is their obligation and responsibility to come to MRA offices to settle tax liabilities by themselves. Any delay or failure to remit taxes would result in MRA asking for the taxes due plus penalties in accordance with the law.
RAPHAEL KAMOTO
COMMISSIONER GENERAL
