Malawians will have to wait longer for the K100,000 tax-free band to take effect as Parliament is yet to send the Taxation Amendment Bill facilitating the change to President Chakwera to assent to.
Parliament spokesperson Ian Mwenye said secretariat is in the process of coming up with assent copies of the bill which will then be sent to the President.
Mwenye said although the bill was passed on October 19, it is only three working days since Parliament rose last week Friday.
“We are in the process of coming up with what are called assent copies of the bills. Once we finalise this, the bills will be sent to the President. ” Mwenye said.
In Parliament, the bill went through the committee stage without any amendments.
Minister of Finance Felix Mlusu indicated after the bill was passed that the amendment will be effected any time Chakwera assents to the bill.
There was excitement after the passing of the bill among low and medium earning workers in the country.
The expectation was that the amendment would come into effect by end October.
From the day the President will be given the bills, he will have 21 days within which he will either give his assent or announce withholding of the assent of the bill.
Mlusu first introduced the K100,000 tax-free band when he presented the provisional budget which ran from July to September this year but the adjustment waited the passing and now assenting to of the Tax Amendment Bill in question.