MITC helps companies get tax incentives through its one stop service centre

Malawi Investment and Trade Centre has announced that it has managed to assist five companies to access investor tax incentives through its One Stop Service Centre during the first half of the 2022/2023 financial year.  

Through the MRA desk at the one stop service centre we have managed to assist five investors to access the tax incentives within the first half of 2022/2023 financial year. These are both local and foreign investors. These incentives are part of the government’s effort in creating a more conducive and attractive business operating environment. These fiscal incentives are also one way of easing the burden of tax on investment projects in the key priority sectors that have been identified as catalysts for the country’s economic growth. The incentives that we have managed to facilitate within the period range from tax holidays to removal of VAT on imported and locally produced products and registration for the industrial rebate scheme.’

Besides, we have also managed to assist at least seven companies with general information on various tax schemes available at MRA for their businesses.’

MITC, as an investment promotion and facilitation agency of government, provides investment facilitation services to both local and foreign investors which include investment certification, granting of immigration business permits, and identification of land for investment as well as facilitation of access to tax incentives for businesses.

MITC’s Ones Stop Service Centre came into operation in 2014 as one way of reducing the time and cost of setting up a business in Malawi. Currently, the OSSC has three key institutions that are crucial in the investment registration process, these are Department of Immigration, Ministry of Lands, and Malawi Revenue Authority (MRA).

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