Zimbabwe | Finance (No. 2) Act, 2024
The Zimbabwe Finance (No.
2) Act, 2024 was officially gazetted on December 13, 2024.
Key payroll-related
updates include an increase in the local currency tax-free threshold,
increasing it to ZWG 33,600 per annum and a revision of personal income tax
bands. These changes will come into effect on January 1, 2025.
Personal Income Tax Rates:
|
Annual
Taxable Income in ZWG |
Tax Rate
(%) |
|
0 to 33,600 |
0% |
|
33,601 to
100,800 |
20% |
|
100,801 to
336,000 |
25% |
|
336,001 to
672,000 |
30% |
|
672,001 to
1,008,000 |
35% |
|
Above
1,008,001 |
40% |
The above change will be implemented on the system from 1 January 2025.
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