Good day everyone
The Taxation (Amendment) Act, 2022 for Malawi has been gazetted.
The Eleventh Schedule to the Taxation Act has the following amended tax table for PAYE:
Annual tax table for the 2022 tax year
|
From (MK) |
To (MK) |
Taxable amount (MK) |
Rate % |
|
0 |
1 200 000 |
1 200 000 |
0% |
|
1 200 000,01 |
3 960 000 |
2 760 000 |
25% |
|
3 960 000,01 |
36 000 000 |
32 040 000 |
30% |
|
36 000 000,01 |
72 000 000 |
36 000 000 |
35% |
|
72 000 000 |
and above |
- |
40% |
Effective date is 01 April 2022.
Attached is the following:
Version 9:
- W_HR008_MWIU9.zip (Pay plan patch)
The patch contains the following updated grids, with a start date of 1 April 2022:
- MTAXTABLE1
- MTAXTABLE2
- ATAXTABLE1
- ATAXTABLE2
Please distribute to relevant stakeholders.