Malawi: Income and profits taxes
* indicates monthly or quarterly data series
| Malawi |
Income, profits, and capital gains taxes: percent of revenue |
|---|---|
| Latest value | 35.76 |
| Year | 2022 |
| Measure | percent |
| Data availability | 2009 - 2022 |
| Average | 35.20 |
| Min - Max | 24.82 - 42.02 |
| Source | The World Bank |
The latest value from 2022 is 35.76 percent, a decline from 38.4 percent in 2021. In comparison, the world average is 31.54 percent, based on data from 93 countries. Historically, the average for Malawi from 2009 to 2022 is 35.2 percent. The minimum value, 24.82 percent, was reached in 2009 while the maximum of 42.02 percent was recorded in 2018.
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Definition: Taxes on income, profits, and capital gains are levied on the actual or presumptive net income of individuals, on the profits of corporations and enterprises, and on capital gains, whether realized or not, on land, securities, and other assets. Intragovernmental payments are eliminated in consolidation.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Fiscal balance, percent of GDP | -2.80 | 2023 | percent |
| Government debt | 91.32 | 2023 | percent |
| Tax revenue | 12.78 | 2022 | percent |
| Commercial tax rate | 34.50 | 2019 | percent |
| Tax preparation time | 169 | 2019 | hours |
| Number of taxes | 35 | 2019 | taxes |
| Taxes on goods and services | 32.74 | 2022 | percent |
| Taxes on international trade | 7.46 | 2022 | percent |
| Income and profits taxes | 35.76 | 2022 | percent |
| Foreign aid | 1,345.24 | 2022 | million U.S. dollars |