Malawi Publishes Amendment Acts for 2021-22 Budget Measures

The Malawi Revenue Authority has published copies of the Taxation (Amendment) Act 2021 and the Value Added Tax (Amendment) Act 2021, which were originally published in the Official Gazette on 13 August 2021 and provide for the implementation of certain 2021-22 budget measures.

Income Tax Measures

• New individual income tax brackets/rates for annual taxable employment income:
  • up to MWK 1.2 million - 0%
  • over MWK 1.2 million up to 12.0 million - 25%
  • over MWK 12 million up to 36 million - 30%…