On 27 May 2016, Malawi's Minister of Finance Goodall Gondwe presented the draft Budget 2016/2017 to the National Assembly. The main tax-related measures of the Budget include:
- Extending the standard 16.5% value added tax (VAT) rate to several products that are currently zero-rated or exempt in order to expand the tax base and reduce the administrative burden of processing and providing related refunds;
- Allowing companies engaged in mining activities to register for VAT during the exploration…