MRA Misses Half-Year Target By K41 Billion

The Malawi Revenue Authority (MRA) has missed its half year target by MK41 Billion, the authority’s chairperson has confirmed.

The board chairperson, Eric Chapola told local media that MRA had set to collect a target of K451.87 billion in the first six months of the 2017/2018 financial year but managed to collect MK410.87 billion, representing 91 percent.

Chapola said the revenue collecting body was pushed to meet national budget demands due to lack of direct budgetary support.

He however expressed optimism that they will meet the annual target come end of the financial year.

Despite falling short of K41 billion, the revenue collection is way better comparing to what was collected during the same period in the previous financial year.

During the first half of the 2016/2017 financial year the authority collected MK377.44 billion which is MK33.42 billion less than the current collection.