Effective from 3 November 2020, the following are the changes in personal income tax (PIT):
- Increase in the 0% tax band from 540,000 Malawian kwacha (MWK) to MWK 1,200,000 per annum.
This change has led to the following annual income tax rates for individuals:
- First MWK 1,200,000 at 0%.
- Next MWK 34,800,000 at 30%.
- Excess over MWK 36,000,000 at 35%.