Zimbabwe lifts tax-free threshold to $5 000

Zimbabwe Finance Minister Mthuli Ncube today raised the tax-free threshold from $2 000 a month to $5 000 a month with effect from 1 August.

At the present official exchange rate, the tax-free threshold was raised from US$30 to US$72 dollars.

This is not likely to go down well with workers who have been demanding payment in US dollars as this means anyone earning the equivalent of US$73 will be taxed.

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