Malawi: 2022/2023 Tax changes

Malawi: 2022/2023 Tax changes

The 2022/2023 Budget Statement was Delivered to the National Assembly of the Republic of Malawi by the Minister of Finance and Economic Affairs on Friday, the 18th of February 2022. The proposed changes came into effect on the 1st of April after the enactment of the Taxation (Amendment) Act, 2022. In the effort of continuing to improve the progressivity of the Pay As You Earn (PAYE) system and ensuring that Government continues to raise realistic revenues from PAYE, the monthly PAYE schedule has been revised.
Changes to the second and third brackets were made.
The Taxation (Amendment) Act, 2022 amended the Rates of Income Tax on Employment Income:


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