JANUARY 2020 – MALAWI & ZIMBABWE
IMPORTANT TAX CHANGES
It is important that employers note the following:
MALAWI
Changes to PAYE Rates
A public notice was released by Malawi Revenue Authority with the new tax rates proposed in the 2019/2020 Budget Statement.
The Malawi government has increased the PAYE tax-free bracket to MK45,000 from MK35,000 per month.
Note: The effective date for the new tax tables is 22 November 2019, not the beginning of the tax year which is 1 July 2019.
It should also be noted that the minimum wage was increased from the current K962 per day (translating to K25,012 per month) to K1,346.15 per day which translates to K35,000 per month.
ZIMBABWE
Changes to the PAYE Rates
With effect from 1 January 2020 the tax free threshold increased to $24000 per annum for remuneration earned in ZWL and to USD$840 for remuneration earned in foreign currency.
Annual Tax Tables from 1 January 2020 to 31 December 2020 – Zimbabwe Dollars (ZWL)
The tax-free bonus increased from $1,000 to $5,000 with effect from 1 November 2019
Contact our legislation team at info@crs.co.za if you require any additional information.
© 2019 CRS Technologies (Pty)Ltd. All Rights Reserved.
