{"id":79272,"date":"2019-06-18T04:37:36","date_gmt":"2019-06-18T02:37:36","guid":{"rendered":"http:\/\/www.times.mw\/?p=79272"},"modified":"2019-06-18T04:37:36","modified_gmt":"2019-06-18T02:37:36","slug":"castel-future-under-threat","status":"publish","type":"post","link":"https:\/\/archive.times.mw\/index.php\/2019\/06\/18\/castel-future-under-threat\/","title":{"rendered":"Castel future under threat"},"content":{"rendered":"<p><strong><em>By Chimwemwe Mangazi: <\/em><\/strong><\/p>\n<figure id=\"attachment_79276\" aria-describedby=\"caption-attachment-79276\" style=\"width: 270px\" class=\"wp-caption alignleft\"><a href=\"\/\/www.times.mw\/wp-content\/uploads\/2019\/06\/titha-mbilizi.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-79276\" src=\"http:\/\/www.times.mw\/wp-content\/uploads\/2019\/06\/titha-mbilizi-270x300.jpg\" alt=\"\" width=\"270\" height=\"300\" srcset=\"https:\/\/archive.times.mw\/wp-content\/uploads\/2019\/06\/titha-mbilizi-270x300.jpg 270w, https:\/\/archive.times.mw\/wp-content\/uploads\/2019\/06\/titha-mbilizi.jpg 329w\" sizes=\"auto, (max-width: 270px) 100vw, 270px\" \/><\/a><figcaption id=\"caption-attachment-79276\" class=\"wp-caption-text\">MBILIZI\u2014It is too premature for me to give a follow up<\/figcaption><\/figure>\n<p>Malawi Revenue Authority (MRA) has pounced on one of the beverage producers in the country, Castel Malawi Limited, over dues in taxes.<\/p>\n<p>The company has 1,284 employees with a business network of over 100,000 stakeholders, customers, suppliers, distributors and contractors, locally and internationally.<\/p>\n<p>A press statement issued by Castel indicates that MRA has issued a final distrain notice against the company and yesterday, garnisheed Castel accounts.<\/p>\n<p>According to the statement, which <em>The Daily Times <\/em>has seen, the development stems from the implementation of the calculation of excise tax for alcoholic beverages based on 90 percent of production cost.<\/p>\n<blockquote><p><em>\u201cIn September 2018, the Malawi Revenue Authority advised the company to start calculating excise tax based on ex-factory price (production cost + margin). At the rate of 90 percent, this will adversely affect the performance, cash flow and survival of the company,\u201d<\/em> the statement reads.<\/p><\/blockquote>\n<p>The company has indicated that it risks closure and withdrawal of Castel Group from the country due to what it calls unrealistic and unaffordable excise calculations.<\/p>\n<p>In a telephone interview, MRA Head of Corporate Affairs, Steve Kapoloma, declined to comment on the matter, saying he had not seen Castel\u2019s statement.<\/p>\n<blockquote><p><em>\u201cFirst of all, I am not aware of that and I haven\u2019t seen the statement. We talk to over 100 taxpayers, some have been fined some have received final distraintion, some have been garnisheed and a lot of other issues but we don\u2019t comment on each one of them that, for company X, we are likely going to close next week, no,\u201d<\/em> Kapoloma said.<\/p><\/blockquote>\n<p>Castel Malawi Corporate Communications and Digital Manager, Titha Mbilizi, could not explain the company\u2019s next course of action.<\/p>\n<blockquote><p><em>\u201cIt\u2019s too premature for me to give a follow up on that,\u201d<\/em> Mbilizi said.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>By Chimwemwe Mangazi: Malawi Revenue Authority (MRA) has pounced on one of the beverage producers in the country, Castel Malawi Limited, over dues in taxes. The company has 1,284 employees with a business network of over 100,000 stakeholders, customers, suppliers, distributors and contractors, locally and internationally. A press statement issued by Castel indicates that MRA [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-79272","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/79272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=79272"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/79272\/revisions"}],"predecessor-version":[{"id":79277,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/79272\/revisions\/79277"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=79272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=79272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=79272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}