Yes, there has been a slight price bump on a lot of products and services overnight. Its retailers and service providers recalculating their pricing to accommodate the 0.5% increase in VAT from 14.5% to 15% under the Finance Act (No.2), 2022 effective 1 Jan 2023. This tax was originally 15% and was reduced to 14.5% on 1 January 2020 so this is just it going back to its original figure.
PUBLIC NOTICE: CHANGE OF VALUE ADDED TAX RATE FROM 14.5% TO 15%
ZIMRA press statement
Following the promulgation of Finance Act Number 2 of 2022, the Finance Minister directed that Value Added Tax rate be adjusted from 14.5% to 15%, with effect from 1 January 2023.
The Zimbabwe Revenue Authority (ZIMRA) hereby notifies all its valued clients that the Value Added Tax (VAT) rate is now 15% starting 1 January 2023 going forward.
ZIMRA wishes to advise all Value Added Tax Registered Operators that:
a) With effect from 1 January 2023 they are now required to charge Value Added Tax at the rate of 15%. b) Fiscal devices should record VAT at 15%. therefore VAT Registered Operators are required to approach their respective Approved Suppliers for effecting this change and ensuring that their fiscal devices are correctly configured to record the new Value Added Tax (VAT) rate of 15%.
2023 RTGS PAYE tax tables
| Daily Table | |||
|---|---|---|---|
| RTGS Salary Range | Tax deducted % | Deduct (RTGS) | |
| – to 3,013.70 | 0 | – | |
| 3,013.71 to 10,520.55 | 20 | 602.74 | |
| 10,520.56 to 18,016.44 | 25 | 1,128.77 | |
| 18,016.45 to 25,512.33 | 30 | 2,029.59 | |
| 25,512.34 to 32,876.71 | 35 | 3,305.21 | |
| 32,876.71 and above | 40 | 4,949.04 | |
| Weekly Table | |||
| – to 21,153.85 | 0 | – | |
| 21,153.86 to 73,846.15 | 20 | 4,230.77 | |
| 73,846.16 to 126,461.54 | 25 | 7,923.08 | |
| 126,461.55 to 179,076.92 | 30 | 14,246.15 | |
| 179,076.93 to 230,769.23 | 35 | 23,200.00 | |
| 230,769.24 and above | 40 | 34,738.46 | |
| Fortnightly Table | |||
| – to 42,307.69 | 0 | – | |
| 42,307.70 to 147,692.31 | 20 | 8,461.54 | |
| 147,692.32 to 252,923.08 | 25 | 15,846.15 | |
| 252,923.09 to 358,153.85 | 30 | 28,492.31 | |
| 358,153.86 to 461,538.46 | 35 | 46,400.00 | |
| 461.538.47 and above | 40 | 69,476.92 | |
| Monthly Table | |||
| – to 91,666.67 | 0 | – | |
| 91,666.68 to 320,000.00 | 20 | 18,333.33 | |
| 320,000.01 to 548,000.00 | 25 | 34,333.33 | |
| 548,000.01 to 776,000.00 | 30 | 61,733.33 | |
| 776,000.01 to 1,000,000.00 | 35 | 100,533.33 | |
| 1,000,000.01 and above | 40 | 150,533.33 | |
| Annual Table | |||
| – to 1,100,000.00 | 0 | – | |
| 1,100,001.00 to 3,840,000.00 | 20 | 220,000.00 | |
| 3,840,001.00 to 6,576,000.00 | 25 | 412,000.00 | |
| 6,576.001.00 to 9,312,000.00 | 30 | 740,800.00 | |
| 9,312,001.00 to 12,000,000.00 | 35 | 1,206,400.00 | |
| 12,000,001.00 and above | 40 | 1,806,400.00 |
2023 Foreign Currency PAYE tax tables
| Daily Table | |||
|---|---|---|---|
| US$ Salary Range | Tax deducted % | Deducte (US$) | |
| – to 3.29 | 0 | – | |
| 3.30 to 9.86 | 20 | 0.66 | |
| 9.87 to 32.88 | 25 | 1.15 | |
| 32.89 to 65.75 | 30 | 2.79 | |
| 65.76 to 98.63 | 35 | 6.08 | |
| 98.64 and above | 40 | 11.01 | |
| Weekly Table | |||
| – to 23.08 | 0 | – | |
| 23.09 to 69.23 | 20 | 4.62 | |
| 69.24 to 230.77 | 25 | 8.08 | |
| 230.78 to 461.54 | 30 | 19.62 | |
| 461.55 to 692.31 | 35 | 42.69 | |
| 692.32 and above | 40 | 77.31 | |
| Fortnightly Table | |||
| – to 46.15 | 0 | – | |
| 46.16 to 138.46 | 20 | 9.23 | |
| 138.47 to 461.54 | 25 | 16.15 | |
| 461.55 to 923.08 | 30 | 39.23 | |
| 923.09 to 1,384.62 | 35 | 85.38 | |
| 1,384.63 and above | 40 | 154.62 | |
| Monthly Table | |||
| – to 100.00 | 0 | – | |
| 100.01 to 300.00 | 20 | 20.00 | |
| 300.01 to 1,000.00 | 25 | 35.00 | |
| 1,000.01 to 2,000.00 | 30 | 85.00 | |
| 2,000.01 to 3,000.00 | 35 | 185.00 | |
| 3000.01 and above | 40 | 335.00 | |
| Annual Table | |||
| – to 1,200 | 0 | – | |
| 1,201 to 3600 | 20 | 240 | |
| 3,601 to 12,000 | 25 | 420 | |
| 12,001 to 24,000 | 30 | 1,020 | |
| 24,001 to 36,000 | 35 | 2,220 | |
| 36,001 and above | 40 | 4,020 |
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6 comments
Holy squeezed dry blood stones Batman! Vat was actually down all this time?! Lol, I honestly didn’t even feel it! After all, it’s hard to tell the difference between being bitten by a hundred ants and ninety nine ants!
True you just feel the same pain.
Guys. How is PAYE in other countries? Is it higher or lower than in Zimbabwe. What about in SA?
This is one of those times that a direct comparison is not really possible or relavant. But go ahead and Google it if you want.
40% pate.. Outrageous and scandalous
These are issues our people should put on the ballot…. especially how public finance is being managed ,in comparison we are already heavily taxed but what are we getting in terms of public goods and services.