MRA Extends Voluntary Compliance Window
Malawi Revenue Authority (MRA) has extended by a month Voluntary Compliance Window (VCW) from 31 October, 2020 to November 30th, 2020.
MRA Head of Corporate Affairs, Steve Kapoloma, says the development is a response to numerous calls from the taxpayers for ample time to finalize preparations for applications.
Kapoloma says so far, 1, 315 people have applied for the window and 180 of them have been approved.
“All businesses are encouraged to take advantage of this extension by submitting their applications.
“Limited companies that do not have audited financial statements are now allowed to submit VCW applications with self-assessed (unaudited) accounts by 30 November, 2020, but will be required to submit audited accounts by 28th February, 2021,” he said.
Kapoloma says they expect to collect gross revenue amounting to K4.65 billion whilst K2.17 billion gross revenue will be waived.
“Actual revenue waived is K462 million,” he said.