Malawi: Trader Faults Malawi Revenue Authority On VAT for Cooking Oil
15 December 2020
One of the local companies has faulted Malawi Revenue Authority (MRA) for accusing cooking oil manufactures of increasing the price by 30% following the introduction of the Value Added Tax (VAT) on the commodity.
Recently, MRA officials, said the increase in prices of cooking oil by manufacturers should not be related to the re-introduction of 16.5 percent VAT on the essential commodity.
One of the traders, who did not want to be mentioned before they present their grievances to MRA, said the increase in price of the refined cooking oil is related to the increase of crude oil on the international market as well as re-introduction of VAT.
December 15, 2020 Nyasa Times Reporter 18 Comments
One of the local companies has faulted Malawi Revenue Authority (MRA) for accusing cooking oil manufactures of increasing the price by 30% following the introduction of the Value Added Tax (VAT) on the commodity.
The Vat will not only make local refined cooking oil unaffordable but also open the floodgates for smuggled cooking oil making Malawi a dumping ground, thereby defeating the purpose of being productive and exporting.
Recently, MRA officials, said the increase in prices of cooking oil by manufacturers should not be related to the re-introduction of 16.5 percent VAT on the essential commodity.
One of the traders, who did not want to be mentioned before they present their grievances to MRA, said the increase in price of the refined cooking oil is related to the increase of crude oil on the international market as well as re-introduction of VAT.