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PAYE threshold raised to K3,300

KABANDA CHULU, Lusaka
GOVERNMENT has proposed to increase the Pay as You Earn (PAYE) exempt threshold to K3,300 from K3,000 in the 2017 national budget.
Minister of Finance Felix Mutati said workers earning K3,300 and below will not pay monthly income tax because the economic environment in which the 2017 budget will be implemented will be challenging due to volatility in the domestic and global economies.
The proposed PAYE regime for 2017 is that from K0.00 to K3,300, the tax rate is zero while from K3,300 to K4,100, the rate is 25 percent with those earning K4,100 to K6,200 will be paying 30 percent tax rate while those earning above K6,200 will pay 37.5 percent tax rate.READ MORE

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