Review of tax free threshold welcomed

By Wellington Makonese

CIVIL servants have welcomed government’s move to adjust tax exemption and bonus thresholds, saying it will strengthen their buying power in the face of inflation.

The mid-term budget review presentation gave the low income earners a breather as people earning ZWL$600 000 per year or ZWL$50 000 per month will no longer pay tax with effect from the August 1.

This also comes with the review of the Zimbabwe dollar tax free bonus threshold which has been moved up to ZWL$500 000.

In light of inflationary pressures that have been eroding salaries buying power, government has since initiated non-monetary benefits for civil servants, from duty free importation of vehicles to exemption of school fees for three biological children.

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