On 22 May 2015, the Malawi Ministry of Finance presented the draft Budget 2015/2016 to the National Assembly. The main tax-related measures of the Budget include:

• The taxation of deemed interest in respect of interest free loans in the hands of the lender;
• Setting the interest rate on tax debts at the central bank lending rate plus 5%; and
• Introducing a penalty of 20% on unpaid tax amounts due…