MRA beats June target by 3%

Malawi Revenue Authority (MRA) has beaten its June 2016 revenue target by K1.8 billion, representing a three percent rise, according to a tax revenue outturn for June 2016.

The report published on Monday shows that the tax bull collected K56.13 billion against the monthly target of K54.32 billion, beating the target in all the tax lines except excise and import duties.

The positive tax outturn comes some months after MRA has been missing its revenue target largely blamed on poor economic environment.

According to the report, MRA missed its target for the 2015/16 fiscal year by K24 billion after collecting K573.4 billion against a target of K597 billion, representing a 96 percent overall collection.

Tax expert Emanuel Kaluluma in an interview yesterday hailed MRA for beating its target at the end of its financial year, a development he said gives hope that tax collector can do better going forward.