NOVEMBER 2020 – MALAWI
UPDATE: NEW INCOME TAX RATES
It is important that employers note the following:
Malawi Pay As You Earn (PAYE) changes
With reference to the News Flash of 16 October 2020, new tax rates for Malawi have been announced.
On 16 November 2020 Malawi Revenue Authority (MRA) released a press statement and published a public notice on the new income tax rates which came into effect on 3 November 2020.
The Taxation (Amendment) Act and the Value Added Tax (Amendment) Act have been published in the Malawi Government Gazette. Both acts have come into effect and should be implemented.
As far as the Taxation (Amendment) Act is concerned, the amendments include the increase of the tax-free threshold for PAYE from K45, 000 to K100,000 per month.
The new monthly rates are as follows:
Contact our legislation team at info@crs.co.za if you require any additional information.
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