MRA Launches Extended Excise Tax Stamps Regime
The extended excise tax stamps regime was gazetted in January 2024 and has now been fully implemented as of May 1st, 2024.
BLANTYRE, Malawi - The Malawi Revenue Authority (MRA) has launched an extended excise tax stamps regime with the aim of bolstering the tracking and tracing of excise tax payments, writes Mayamiko Phiri.
Speaking during a media briefing in Blantyre on Friday, MRA Deputy Commissioner General Henry Ngutwa said the stamps will target products such as water, alcoholic beverages, tobacco products and carbonated drinks.
"The stamps will help in dealing with smuggling, illicit trade and furthermore it will protect the local manufacturers," Ngutwa stated.
He said MRA has a mandate to protect society from consuming hazardous products, and the stamps will provide assurance that products on the market are legitimate.
Ngutwa hinted that MRA does not expect manufacturers to increase commodity prices due to the new stamp costs, which range from K12 to K32 per unit.
The extended excise tax stamps regime was gazetted in January 2024 and has now been fully implemented as of May 1st, 2024.