Hello, on this page you will find out exactly how to pay taxes for your business and we will also give you reasons on why you must organize your company taxes so that your business continues to grow.
Understanding taxes and meeting taxation obligations is essential for any business. You can save money by paying the right amount on time and taking advantage of any exemptions that you’re entitled to.
Note: We recommend you check out http://www.mra.mw — Malawi Revenue Authority where you can find out all the details relating to how much you are expected to pay in taxes.
Keep records of your payments
Good business records help you manage your business and make sound business decisions. Business records are also useful if you want to sell your business.
Under tax law, you must keep records to record and explain your business transactions.
You’re required to keep records relating to income tax, VAT(value added tax), payments to employees and business payments.