The Malawi Revenue Authority (MRA) has expressed confidence that its targeted revenue collection performance for the rest of the year will be met.
In the remaining 8 months of the 2024/25 financial year ending 31st March 2025, MRA aims to achieve a total collection of K3.26 trillion.
The organisation’s Head of Corporate Affairs Steve Kapoloma made the remarks during a media orientation in Lilongwe.
MRA has surpassed the July 2024 revenue target with a collection of K329 billion, up by K15 billion from the targeted K314 billion.
This represents a year-on-year growth of 62 percent from around K203 billion collected during the same month in 2023.
Kapoloma stated that although there were components of the target that it was not able to meet, the parastatal has however done very well in the first quarter by achieving a 41 percent growth which it described as huge.
He was upbeat of meeting the set targets and reiterated its commitment to ensure this is achieved through the various strategies and reforms which have been put in place.
“Looking ahead to the remaining 8 months of the 2024/25 financial year ending 31st March 2025, MRA aims to achieve a total collection of K3.26 trillion.
“This is thanks to the business community that have been very supportive in terms of our revenue collection efforts; we’d like to encourage them to continue to come to MRA on their own to pay taxes and we would also want to encourage the media to continue to share the information about taxes to the public so that the public should voluntarily come to MRA and pay taxes as we have seen in the month of July”
He acknowledged that the journey will not be smooth, in that every year‘s target is always a challenge but indicated its commitment to ensure they are met.
The revenue collection body is running a programme called “MRA for change” by ensuring government gives good services to the public through its channeling of the collected funds to Treasury to improve service delivery and implementation of various initiatives.
Kapoloma cited smuggling as one of the challenges dogging MRA collection efforts noting if this is addressed, lots of revenue will be realized through the introduction of tax stamps to identify the goods which have come through the border and are tax compliant
He indicated that it will make sure the citizenry gets the services they deserve citing medicines, education and other social services which can only be realized through taxes.
