The Minister of Finance and Economic Affairs, Simplex Chithyola, has described this year’s budget as sacrificial, as it emphasises the government’s commitment to ensuring the country lives within its means through the adoption of revenue enhancement measures.
These measures include the implementation of a bill for the removal of the Value Added Tax waiver on motor vehicle importation by privileged individuals.
The affected individuals include the serving and retired President and Vice President, Cabinet Ministers, Members of Parliament, senior officials in the judiciary, including Judges, senior government officials, as well as senior military officials.
The Minister further urged the August House to collectively work with the government to achieve economic recovery and fiscal consolidation for a better Malawi.
Other measures include the full implementation of electronic excise tax stamps, opening a voluntary tax compliance window for motorcycle operators, and the expansion of electronic payments across revenue-collecting entities.
