Administration of taxes Flashcards
What is the role of the Malawi Revenue Authority (MRA)?
“The MRA is responsible for the assessment, collection, and accounting of tax revenues in Malawi. It was established in 1998 and launched in 2000.”
Who oversees the Malawi Revenue Authority (MRA)?
“The MRA is overseen by a Board of Directors and is headed by a Commissioner General, who provides leadership and strategic direction.”
What are the key divisions within the Malawi Revenue Authority (MRA)?
“The key divisions are: Customs Division (Imports), Customs Division (Exports), and Domestic Tax Division. Supporting divisions include Finance, Human Resources, ICT, and more.”
What are the key taxes administered by MRA?
“MRA administers income tax, value-added tax (VAT), customs and excise duties.”
What powers does the Commissioner General have?
“The Commissioner General has discretionary powers to make determinations regarding taxation, including approval of deductions, determining taxable income, and the extension of payment times.”
What are some specific discretionary powers of the Commissioner General under the Taxation Act?
“Powers include determining the sale status of timber, approving bad debt deductions, deciding on taxable income from timber sales, and extending time for tax payments.”
What is the duty of secrecy under the Taxation Act?
“Tax officers are required to maintain confidentiality and not disclose any information obtained during the course of their duties.”
What are the exceptions to the secrecy rule under the Taxation Act?
“Exceptions include when information is required by the Auditor General, government officials from countries with double taxation agreements, the taxpayer or their authorized agent, the Commissioner for statistical purposes, or for legal prosecution purposes.”
How can notices be communicated to taxpayers?
“Notices can be personally served, left with an adult at the taxpayer’s last known address, sent by post, or affixed at the taxpayer’s last known address.”
What should a company do regarding notices from the MRA?
A company must appoint a public officer responsible for dealing with all taxation matters, including receiving notices, assessments, and returns.
