K100,000 Tax Free Band to be Effected by Parliament

The Ministry of Finance has clarified that workers will have to wait a little longer before the K100,000 tax-free band is effected as the government is waiting for parliament to approve the change.

Minister of Finance Felix Mlusu announced in the 2020/21 Provisional Budget presented in parliament on 30th June 2020 that government was introducing the 100,000 kwacha tax-free band as a way increasing people’s disposable income.

But in a statement released by the Ministry, the tax policy measure will, however, become effective once the enabling Taxation Amendment Bill is presented, deliberated upon, and passed by the legislators.

Read 1373 times
Login to post comments

NEWS IN BRIEF

3 Thousand Farmers Yet to Redeem AIP Fertilizer

With four days to go before the closure of this…
Read more...

MZUNI Graduands Demand Details of Graduation Ceremony

Mzuzu University 2019 graduands have given until 12 February the…
Read more...

Malawian Returnees From SA Delayed in Zim

The arrival of over one thousand Malawian returnees from South…
Read more...

Bwaila Fistula Camp Reopens

After nine-month closure of the Bwaila Fistula Camp in Lilongwe,…
Read more...

MPS Effects Senior Ranks Promotion, Yolamu & Chigwenembe Now Deputy IGs

The Malawi police has effected promotions to senior ranks in…
Read more...
Go to top
JSN Time 2 is designed by JoomlaShine.com | powered by JSN Sun Framework