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*Taxable Income Bracket Raised From ZWL$350 To ZWL$700* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?dm In his Midterm Budget Review statement, Finance and Economic Minister Mthuli Ncube announced that the tax-free threshold has been raised from the current ZW$350 to ZW$700 as a way of cushioning taxpayers against bracket creep and also stimulate aggregate demand for goods and services. He said: In order to cushion taxpayers against bracket creep & also stimulate aggregate demand for goods and services, we propose to review the tax-free threshold from the current ZW$350 to ZW$700, further widen the tax bands to a maximum of ZW$30 000, above which income is taxed at the marginal tax rate of 40%, with effect from 1 August 2019. In view of the changes in the macroeconomic conditions, we propose to review the tax-free threshold from the current ZWL$10 to ZW$20 & the maximum tax payable per transaction by corporates from the current ZWL$10 000 to ZW$15 000 for transactions with a value exceeding ZWL$750 000. ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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