BLANTYRE-(MaraviPost)-Malawi Government will introduce an inheritance tax, a tax that will apply to wealth people receive from someone who has died. This includes money, land, houses, and other valuable property.
Under this proposal, if a parent, relative, or benefactor dies and leaves you an inheritance, government will tax part of that inheritance.
The Minister of Finance Joseph Mwanamvekha however disclosed that the tax will not apply to everyone.
The tax will only apply to inheritances above K20 million will be taxed.
“Anything below MK20 million will be exempt and will not attract any inheritance tax,”
For inheritances that exceed the threshold, government intends to charge an inheritance tax rate of 30 percent, applied only to the amount above K20 million.
Inheritance tax is not common worldwide, but it exists in a few countries, including the United Kingdom, France, Japan, and South Africa.
Finance Minister Mwanamvekha is on nationalwide budget consultation session this week for 2026/25 Fiscal Plan.