Type: Legislation
In a bid to tackle Value Added Tax (VAT) fraud and evasion, the Republic of Malawi will implement a mandatory VAT e-invoicing system as per its 2024/25 budget policy statement. The announcement was made by the Minister of Finance on 23 February 2024, with Malawi’s current VAT rate set at 16.5%.
The new system will replace existing electronic fiscal devices with a governmental invoice reporting portal, eliminating the need for costly cash and point-of-sale devices. This move aims to alleviate financial burdens on smaller businesses and modernize outdated technology for remote invoice reporting.
While a precise implementation date for the electronic billing system has yet to be announced, the Malawi Revenue Authority is expected to release further details shortly.