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Tax Legislation Essay

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Tax legislation and administration Enactment of tax laws The parliament of the Republic of Malawi has unlimited power in the matter of tax legislation. The parliament consists of the National Assembly and the President. All suggested tax law amendments are presented by the Minister of finance to the National Assembly in parliament. The finance minister summarises the proposals during the presentation of this annual budget speech. In this annual budget speech the finance minister presents key measures that outline the government’s fiscal policy in order to achieve certain objectives including stimulation of economic growth and provision of social services such as health, educational and national security services among others. Once the national …show more content…

The role and powers of the Malawi Revenue Authority (MRA) The Malawi Revenue Authority (MRA) is an agency of the Government of Malawi responsible for assessment, collection and accounting for tax revenues. MRA was established by an Act of Parliament in 1998 and was launched in February 2000. It was formed to improve on the functions previously carried out by Divisions of Customs and Excise, and Income Tax in the Ministry of Finance. The Authority operates as a government tax administration agency under the Ministry of Finance. Its main functions are to: 1. Collect and administer all national taxes, duties and levies; 2. Collect revenue that may be imposed under any other legislation, as agreed on between MRA and an organ of the government or institution entitled to the revenue; 3. Provide protection against the illegal importation and exportation of goods; 4. Facilitate trade; and 5. Advise the Minister of Finance on all revenue …show more content…

In pursuance of these duties and to accomplish the mandate of MRA, functional divisions and Divisions have be established. MRA has three revenue divisions of Customs Division (Imports), Customs Division (Exports) and Domestic Taxes Division. The Authority is responsible for implementation of tax legislation and the Commissioner General works with and is supported by three commissioners. The Commissioners of Income taxes, Customs and Excise. The domestic taxes division is responsible for administering and enforcing the Taxation and VAT Acts through the collection of income tax and domestic VAT and Excise. The taxes collected are in form of Pay As You Earn (PAYE), Provisional Tax, Fringe Benefit Tax and Withholding Tax. MRA has over 30 stations spread across the country. The Commissioner is required to provide an annual report on the operation of the Act for presentation to the National Assembly in

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