On November 28, 2024, the government of Zimbabwe announced new tax measures as part of the 2025 National Budget presentation. Key updates affecting payroll include an increase in the local currency tax-free threshold, increasing it to ZiG 2,800 per month and a revision of personal income tax bands. These changes will come into effect on January 1, 2025.
Proposed Personal Income Tax Rates:
|
Monthly Taxable Income in ZiG |
Tax Rate (%) |
|
0 to 2 800 |
0% |
|
2 801 to 8 400 |
20% |
|
8 401 to 28 000 |
25% |
|
28 001 to 56 000 |
30% |
|
56 001 to 84 000 |
35% |
|
Above 84 000 |
40% |