Malawi Revenue Authority Initiates Nationwide KYC Exercise to Update Taxpayer Database

The Malawi Revenue Authority (MRA) will carry out a Know Your Customer (KYC) exercisebetween March 6, 2019, and May 31, 2019, to update its taxpayer database. This initiative affects all registered taxpayers in Malawi.

Participation Requirements

Taxpayers must fill out and submit the following KYC forms:

• For organizations
• For individuals

Gather the required information and complete the forms with your business details. Taxpayers can deliver the forms to the nearest MRA office or email them to kyc@mra.mw.

Benefits of the Exercise

The main objectives of this initiative are:

• Updating taxpayer information
• Improving communication between taxpayers and the tax authorities

Consequences of Non-Compliance

Taxpayers who fail to submit the completed forms may face penalties as per the law.

Further Clarification

For queries and clarifications, contact:

• Crosby Phiri at 0888 951 638
• Steven Kapoloma at 0888 986 200

Commissioner General, Tom Gray Malata, emphasized the significance of this exercise, remarking, “This process is not merely a formality but an essential step in maintaining an accurate and up-to-date taxpayer database.”

Broader Implications

This KYC exercise is part of a larger strategy to strengthen Malawi’s tax system and improve tax administration. The aim is to ensure fairness and efficiency for all taxpayers.