Parliament passes Tax Amendment Bill which facilitates K100 000 free tax band

Malawi Parliament on Monday passed the Taxation amendment Bill which among others seeks to introduce a 20 percent tax on winning bets and lotteries and also fulfill Tonse Alliance promise of K100 000 tax free band.

Mlusu: President Chakwera will have to assent 

The bill went through the committee stage without any amendment.

Minister of Finance Felix Mlusu has, however, underlined that the Taxation Amended Act will come into effect once President Lazarus Chakwera assents to the bill.

He said while the plan is to have the Act effective at the end October, it will depend on how soon the President will assent to the Act.

Follow and Subscribe Nyasa TV :

Sharing is caring!

Follow us in Twitter
3 Comments
newest
oldest most voted
Inline Feedbacks
View all comments
Mwaonongabukhu
Mwaonongabukhu
7 months ago

Stupid tonse alliance stupid!

Mapopa
Mapopa
7 months ago

Politicians are very good at making unnecessary delays to suit their aspirations. They knew it well before hand that its not possible to effect this in October, simply because the treasury is not ready yet. Now, they say, they wanted it effected this October, but it depends on when the president will assent to the bill. The President will take time deliberately and sign it in November.

I'm That I am
7 months ago
Reply to  Mapopa

these people are crooks

shares
Read previous post:
ACB insists Mutharika cleared in Malawi police food scandal involving Zameer Karim

The Anti-Corruption Bureau (ACB) has maintained that it cleared former president Peter Mutharika in the Zameer Karim police rations case...

Close