Malawi: Proposed changes to tax tables

According to the Budget Speech, the tax-free bracket has increased from K35 000 to K45 000.

Click here for the Taxation Amendment Bill.

 

The new monthly tax table will be as follows:

First K45 000 - 0%

Next K5 000 - 15%

Next K2 950 000 - 30%

Excess over K3 000 000 - 35%

This has not been promulgated yet.

The tax file will be released soon for implementation.

The effective date is not mentioned in the Taxation (Amendment) Bill but it is expected to be 01 July 2019.