Non - Taxable Monthly Income Bracket Raised From $700 To $2000

4 years agoSun, 17 Nov 2019 04:07:54 GMT
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Non - Taxable Monthly Income Bracket Raised From $700 To $2000

The Ministry of Finance in a bid to give relief to Zimbabweans who are watching as inflation erodes their incomes on a daily basis has proposed to raise the non-taxable monthly income bracket from $700 to $2000 VOA reports.

The proposal was made by the Finance Minister during the 2020 National Budget presentation according to the publication:

To give some relief to Zimbabweans who have seen their incomes eroded by inflation, which economists estimate at 380%, Ncube also raised non-taxable monthly income to 2,000 Zimbabwe dollars ($130) from 700 Zimbabwe dollars.

Treasury has however ignored calls by different unions representing different workers to increase civil servants salaries, with the health minister admitting that the govt is broke despite them gushing about a budgetary surplus in 2019. 

More: VOA

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