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High Court of Malawi Revenue Division - 2024

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1 judgment
January 2024
Telekom Networks Malawi Plc v Commissioner General of Malawi Revenue Authority (Revenue Appeal Cause No. 2 of 2021) [2024] MWHCRev 1 (19 January 2024)
E-money services by a non-bank are not banking services and are not VAT-exempt under section 20.
  • Tax Law — Value Added Tax — Banking services — Whether e-money services provided by a non-bank e-money service provider qualify for VAT exemption under section 20 of the VAT Act
  • Payment Systems — E-money Regulation — Scope of e-money services — Whether non-bank e-money service providers may conduct banking business, accept deposits, or charge interest — Payment Systems (E-money) Regulations regs 5(3), 5(4), 5(7) and Banking Act s3
19 January 2024