MRA beats target

Written by  McDonald Chiwayula

Against all odds the Malawi Revenue Authority - MRA has once again beaten its revenue collection target for July-August by K11 billion.

Steven Kapoloma, Corporate Affairs Manager, MRA Steven Kapoloma, Corporate Affairs Manager, MRA

This has been revealed when the tax collecting body appeared before the Budget and Finance Committee of Parliament on Tuesday.

MRA alludes this feat to changes it has made in tax collection and is optimistic of an upward improvement in the first quarter of the 2018/19 fiscal year.

Speaking to the Committee, MRA Deputy Commissioner General, Roza Mbilizi said beating the set target in effect offsets the missed mid-year target in the 2017-2018 budget. She was quick to point out that poor performance of Pay as You Earn Taxes derailed the projection.

Statistically MRA collected K88 billion instead of K83 billion in July beating its target by K5 billion. In August the tax collecting body collected K79 billion surpassing the target with K6.5 billion.

In his remarks Corporate Affairs Manager for MRA, Steven Kapoloma, said the tax collecting body is on target with a surplus already recorded.

“We have started well. Right now over K10 billion of surplus already collected, this is positive and we will build on that to collect more,” said Kapoloma.

In the 2018/19 fiscal year MRA estimates to collect K961 billion, which translates into a 14 percent surplus when compared to 2017/18 targeted revenue collection.

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