MCTU delighted with tax free band increase: ‘Disposable income will increase’
Malawi Congress of Trade Union (MCTU) have expressed delightment with the decision by the new Tonse Alliance government to increase the Tax Free Band from K50 000 to K100 000 as per promised in their campaign manifesto.
Finance minister Felix Mlusu announced the good news on Tuesday as he presented a provisional budget in parliament.
MCTU has been fighting for the Tax Free Band increase since the outgoing ruling Democratic Progressive Party (DPP) was in power.
But DPP only managed to raise it from K35,000 to K50,000 only.
“That the new budget has been presented and reflect the K100 000 we have been looking for, we are very excited on two reasons,” said MCTU General Secretary Dennis Kalekeni.
“The disposable income now will be increased in this particular case so you realise that as someone goes back home after getting his salary, the amount of money that was taken into the pocket will drastically be increased” .
He also added that it will boost the livelihood of Malawians including enabling them to observe and manage to access preventative materials to protect themselves from Covid-19 pandemic.
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