Malawi: Commercial rate for fringe benefit tax on employer provided concessional loans

Malawi: Commercial rate for fringe benefit tax on employer provided concessional loans

Paragraph 5(e) of the Fringe Benefits Tax Regulations stipulates that where an employer provides a loan to an employee at an interest rate lower than the applicable commercial rate, the resulting interest difference be recognized as a fringe benefit.
For the second quarter (July to September 2022) the rate remains unchanged at 24%.