The Finance minister of Zimbabwe announced the 2021 Budget. Please click here for the 2021 National Budget Statement.

Below are the key highlights under Personal Income Tax:

Effective 1 November 2020

The tax-free bonus has increased from ZWL5 000 to ZWL25 000.

The Amendment Act is not yet available, but the bonus exemption should be applied to the payroll as soon as possible.

Proposed changes Effective 1 January 2021

The first and last tax brackets of the PAYE tax table will change, as mentioned below.

The actual tax tables will be provided in the Finance Bill, which is not yet available.

Please note that this communication will be updated as soon as more information becomes available.