Categories: Zim Latest

ZIM Tax-free Threshold Increased To $3 500: ZIMRA

The government has increased the tax-free threshold to $3 500 with effect from August 1. In a notice, the Zimbabwe Revenue Authority (ZIMRA) said employees earning $3 500 and below will not be taxed, while those earning $3 501 to $15 000 will be taxed at a rate of 20 per cent.

Those earning between $15 001 and $50 000 will be taxed at a rate of 25 per cent; a salary of between $50 001 and $100 000 attracts 30 per cent tax; salaries of between $100 001 and $150 000 attract 35 per cent tax, while salaries of $150 001 and above will be taxed 40 per cent.

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