Effective from 22 November 2019, the following are the changes in personal income tax (PIT):
- Increase in the 0% tax band from 420,000 Malawian kwacha (MWK) to MWK 540,000 per annum.
This change has led to the following individual tax regimes:
- Annual income tax rates for individuals:
- First MWK 540,000 at 0%.
- Next MWK 60,000 at 15%.
- Next MWK 35,400,000 at 30%..
- Excess over MWK 36,000,000 at 35%.