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Anxiety overtakes optimism for inclusive wealth creation as banks introduce VAT on services

Prospects for inclusive economic wealth creation are fast turning into an illusion for poor Malawians following an announcement by the Bankers Association of Malawi (BAM) that it will introduce a 16.5 percent Value Added Tax (VAT) on some banking services effective November 1, 2021. It is obvious that the introduction of VAT on banking services […] ....

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