Value Added Tax (Amendment) Act, 2023.

Abstract

The Value Added Tax (Amendment) Act 2023 introduces specific modifications to the existing VAT legislation in Malawi. It clarifies the definition of the supply of a business as a going concern, amendments to tariff exemptions for goods such as gas stoves, wheat flour, and urinary drainage bags, and updates on zero-rated exports, including documentation requirements. The act also consolidates amendments related to the tariffs for electric motor vehicles and repeals section 46F of the principal Act. Overall, it aims to refine VAT regulations to enhance clarity, compliance, and administration within the tax framework.