Mali Tax Tables 2024 - Tax Rates and Thresholds in Mali

This page contains the tax table information used for the calculation of tax and payroll deductions in Mali in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ ML, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Mali or would like to add to or suggest amendments to the information herein then please contact us.

Mali Personal Income Tax Tables in 2024

The Income tax rates and personal allowances in Mali are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Mali Tax Calculator 2024.

In Mali, social security contributions made by employees are typically deductible from their gross income for the purpose of calculating taxable income. This means that the amounts contributed towards social security by employees can reduce their taxable base, potentially lowering the amount of income tax owed. Such provisions align with Mali's tax system objectives, aiming to encourage participation in the social security system while providing some tax relief to individuals, supporting the overall goal of promoting financial security and welfare for the workforce.

Mali Social Security and Payroll Deduction Rates in 2024

In Mali, the social security system is designed to provide a safety net for employees and their families, covering various aspects of social welfare such as retirement benefits, health insurance, family benefits, and workplace accident insurance. Both employers and employees contribute to this system, ensuring that workers have access to essential services and financial support in times of need.

Retirement benefits constitute a key component of Mali's social security system. Contributions fund pensions for employees when they reach retirement age, ensuring a stable income for retirees. This system supports elderly citizens, allowing them to live with dignity after concluding their professional careers.

Health insurance contributions are another critical element, providing coverage for medical expenses, hospitalization, and certain preventive health services. This ensures that employees and their dependents have access to healthcare, contributing to the overall well-being of the workforce and reducing financial barriers to accessing medical care.

Family benefits, funded through social security contributions, offer support to employees with families, covering areas such as maternity leave, family allowances, and support for child education. These benefits are designed to help employees balance work and family life, promoting the health and development of children.

Workplace accident insurance is an essential part of Mali's social security system, offering protection to employees who suffer from injuries or illnesses as a result of their job. This insurance provides financial compensation and covers medical treatment, rehabilitation, and, in some cases, disability pensions for affected workers.

In addition to these benefits, Mali's social security system may include unemployment insurance, providing temporary financial support to individuals who are actively seeking employment but are unable to find work. This helps to mitigate the impact of job loss on workers and their families.

Employers in Mali are responsible for withholding the appropriate social security contributions from their employees' salaries and making their own employer contributions. These funds are then directed to the national social security institution, which administers the benefits and ensures their distribution to eligible recipients.

The social security system in Mali faces challenges such as ensuring sustainable funding and extending coverage to the informal sector, where many workers lack access to social security benefits. Efforts are ongoing to reform and strengthen the system, aiming to improve coverage, efficiency, and the adequacy of benefits.

Understanding the structure and purpose of social security and payroll deductions is crucial for both employers and employees in Mali. It ensures compliance with legal obligations and provides a framework for financial planning and security across the workforce.

Mali VAT Rates in 2024

VAT rates for Mali are reviewed annually, you can use the VAT Calculator to calculate VAT due in Mali or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Historic Tax Tables supported for Mali

The following tax tables are supported by iCalculator™ ML as part of the suite of free tax tools we provide for Mali.