axation (Amendment) Act, 2021
| dc.contributor.author | The Parliament of Malawi | |
| dc.date.accessioned | 2025-09-14T09:13:58Z | |
| dc.date.issued | 2021-08-13 | |
| dc.description.abstract | The amendments to the Malawi Taxation Act 2021 introduce several key changes: they define "winnings" and establish a withholding tax on winnings exceeding K100,000; update the presumptive tax on turnover, with specified rates based on turnover thresholds and options for taxpayers to opt out; replace the section on presumptive tax with provisions applicable to income derived from Malawi for businesses with income not exceeding K12.5 million; and implement a new requirement for advance income tax of 3% on the customs value of imported goods, with exemptions for personal use, government entities, or tax-exempt individuals. Additionally, the Eleventh Schedule is amended to modify income tax rates and thresholds, and the Fourteenth Schedule is updated concerning withholding tax on winnings. | |
| dc.identifier.citation | Malawi, Parliament, Taxation (Amendment) Act 2021 (published in Malawi Gazette Supplement, 13 August 2021). | |
| dc.identifier.govdoc | Taxation (Amendment) Act 2021 (Malawi Gazette Supplement, 13 August 2021, Act No. 4 of 2021). | |
| dc.identifier.uri | https://elibrary.rat.gov.mw/handle/123456789/63 | |
| dc.language.iso | en | |
| dc.publisher | Government of Malawi | |
| dc.subject | Winnings | |
| dc.subject | Presumptive tax | |
| dc.subject | Income tax rates | |
| dc.subject | Importation tax | |
| dc.subject | Schedule amendments | |
| dc.title | axation (Amendment) Act, 2021 | |
| dc.type | Other |