Zimbabwe: Tax Changes
Zimbabwe Revenue Authority published Pay As You Earn (PAYE) tables for August to December 2019.
All changes are effective 1 August 2019.
Statutory Tax Rates
These are the published Monthly Statutory Tax Rates:
|
Monthly Taxable Income |
Multiplied By |
Deducted |
|
0 – 700.00 |
0% |
- |
|
700.01 – 3 000.00 |
20% |
140.00 |
|
3 000.01 – 10 000.00 |
25% |
290.00 |
|
10 000.01 – 20 000.00 |
30% |
790.00 |
|
20 000.01 – 30 000.00 |
35% |
1 790.00 |
|
30 000.01 and above |
45% |
4 790.00 |
This is the Annual Equivalent:
|
Annual Taxable Income |
Multiplied By |
Deducted |
|
0 – 8 400.00 |
0% |
- |
|
8 400.01 – 36 000.00 |
20% |
1 680.00 |
|
36 000.01 – 120 000.00 |
25% |
3 480.00 |
|
120 000.01 – 240 000.00 |
30% |
9 480.00 |
|
240 000.01 – 36 000.00 |
35% |
21 480.00 |
|
360 000.01 and above |
45% |
57 480.00 |
Tax Credits
The annual tax credits have been amended as follows:
|
Type of Credit |
Previously (Interim RTGS$) |
NEW (ZWL) |
|
Elderly taxpayer (over 55 years of age) |
900 |
7 200 |
|
Blind person |
900 |
7 200 |
|
Mentally or physically disabled person |
900 |
7 200 |
Tax Deductions
The following amendments have been made:
• Deduction for contributions to a pension fund or a retirement annuity has changed from RTGS$ 5 400 to ZWL 43 200 per year.
• Deduction for arrears pension contribution has changed from RTGS$ 1 800 to ZWL14 400 per year.
The changes are all in ZWL irrespective of the currency of the employee’s earnings.