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*Tax-free Threshold Raised To ZWL$5 000* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?oa The government has raised the tax-free threshold to 5 000 Zimbabwe dollars per month, while mining companies have been directed to pay royalties in foreign currency. This was revealed by Finance and Economic Development Minister Mthuli Ncube during the second reading of The Finance Bill in Senate on Wednesday. ---------- itel A70 256GB $99USD WhatsApp: https://wa.me/+263715068543 Calls: 0772464000 ---------- Ncube told the Senators that the upward review of the tax-free threshold was aimed at cushioning workers from Coronavirus induced challenges. He said: > In view of the Covid-19 triggered financial meltdown, employees earning less than five thousand dollars per month will not pay taxes starting from the month of August until the end of the year. Ncube also said the Finance Bill seeks to increase foreign currency inflows into government coffers by charging mining royalties in foreign currency. Said Ncube: > One of the provisions of the finance bill is to allow mining companies to pay royalties in foreign currency unless requirements do not apply where they will continue paying in local currency. *More: ZBC News* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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