Zimbabwe -Tax Changes

The highest tax rate of 45% on the taxable income earned from employment which was gazetted in the Finance Act (7) No. 2 of 2019 is being corrected to 40%.

 

The necessary legislation amending the highest rate from 45% to 40% will be promulgated in due course and will be applicable with effect from 1 August 2019. Employers are therefore advised to affect the correct rate of 40%.

 

This tax file has already been deployed prior to this release, however, we are mentioning this change here so that it is documented.