Standard Bank - BOL to Wallet

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 5810 times
Login to post comments

NEWS IN BRIEF

Rising Suicide: Psychologist Blames Lack on Trust

A top psychologist has blamed the sharp rise in suicide…
Read more...

Tourism Grows as Malawi Launches National Tourism Month

Minister of Tourism Vera Kamtukule says the tourism sector has…
Read more...

Father Boucher Remembered for Preserving Malawian Culture

The departed Catholic priest, father Claude Boucher, has been described…
Read more...

Malawi Chewa Group to Hold Parallel Chifukwato Ceremony

Barely a few days after some the Chewa people led…
Read more...

Man Arrested in Neno for Ritual Coffins, Accomplice Escapes

Police in Neno have arrested a 42-year-old man named as…
Read more...
Go to top
JSN Time 2 is designed by JoomlaShine.com | powered by JSN Sun Framework