Malawi's Minister of Finance presented the 2022/2023 Budget Statement in parliament on 18 February 2022. Tax policy measures of the budget are summarized as follows:
Income Tax Measures
- The monthly PAYE income tax schedule is revised as follows:
- up to MWK 100,000 - 0%
- over MWK 100,000 up to 330,000 - 25%
- over MWK 330,000 up to 3 million - 30%
- over MWK 3 million up to 6 million - 35%
- over MWK 6 million - 40%
- The deemed interest rate for 0% or no interest foreign loans is changed from th…