The Malawi Revenue Authority has confirmed that the tax year for PAYE will be changing from July - June to April to March.

The transition period is July 2021 – March 2022 (9 months)

Thereafter April 2022 – March 2023 (full tax year)

The MRA has not yet released official publications regarding this. This will possibly be mentioned in the upcoming amendment to the tax law.

The PAYE reports have not yet been altered to align with this change.

Heads up: IMPORTANT !!!

Users must install version 5.8a in March, as soon as the update becomes available.

Please Note: When you have converted to Release 5.8a, Monthly companies MUST have been in the Processing Month of MARCH and Non-Monthly companies MUST have been in any Processing Period in MARCH.

If you converted in any Processing Month after March, you will need to RESTORE your March Backup, Update your system to Release 5.8a, convert your Malawi companies, and only then do a Start of Period to the Processing Month of April. 

More information will become available on the Release notes for version 5.8a