Taxation Act

Abstract

The Taxation Act in Malawi is a crucial piece of legislation governing taxation in the country. The act provides; Source of Income: Any capital gain or capital loss realized in respect of tangible property located in Malawi or property representing an interest in a company incorporated in Malawi shall be deemed to accrue from a source within Malawi. The act also provides the Tax Rates. The tax rates in Malawi vary, with taxable income taxed at 0%, 30%, or 35% depending on the income bracket.