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The Malawian government has reversed its decision on the implementation of a new tax system for clearing second-hand motor vehicles.
The decision was announced by Minister of Finance and Economic Affairs Sosten Gwengwe while engaging Friday with Malawi Revenue Authority (MRA) officials and representatives of the Car Dealers Association of Malawi.
The change was made after inaccuracies were discovered in the calculation of what were perceived as new taxes on imported second-hand vehicles, as determined by the MRA, authorities said.
The new system, which aimed to impose fixed rates on second-hand motor vehicles manufactured between 2001 and 2020, was scheduled to roll out on July 15.
At the meeting Friday, Gwengwe issued a directive to the MRA, instructing it to immediately halt the implementation of the new system for clearing second-hand vehicles.
Car Dealers Association Chairperson Themba Mkandawire expressed satisfaction with the government’s decision, saying it will ensure the continued operations among the association’s members.
“We are delighted that the government has decided to retract this move. When the news broke, we were deeply concerned about the potential closedown of many businesses, as we heavily rely on this trade,” Mkandawire told Xinhua on Monday. Enditem
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