Oct 19, 2017 Last Updated 2:13 PM, Oct 19, 2017
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Tax Rates Fairly Low In Malawi

Tax Rates Fairly Low In Malawi Image sourced at mra.mw
Published in Business News
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Tax rates in Malawi are lower than in most of the countries in southern Africa.

This is according to the Malawi Revenue Authority (MRA).

The Head of Corporate Affairs, Steve Kapoloma made these remarks in an interview with the Malawi News Agency, in reaction to widespread concerns from the public that the revenue collecting agency is overtaxing Malawians.

Kapoloma explained that a study conducted by the International Monetary Fund-IMF, comparing Malawi and countries within the region like Mozambique, Zambia, Zimbabwe and Kenya among others, finds that the taxes in Malawi are sometimes lower.

For instance, Malawians pay 30% of their monthly income for Pay as You Earn (PAYE), while people in South Africa pay 41%, Zimbabweans 50 and Mozambicans 32.

According to Kapoloma, only Tanzania equals Malawi at 30 percent.

He warned that MRA would deal with any type of tax evasion in the country to make sure that the body meets its goals.

Last modified on Thursday, 05 October 2017 07:45

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