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Please adjust tax bands



ON January 1 this year the lowest-paid commercial worker was paying 5% of his $19 800 salary in Paye and Aids Levy. The monthly tax-free amount was $15 000.



erdana, Arial, Helvetica, sans-serif”>That tax-free amount has remained the same, but inflation is well over 400%, and rising.


That same worker is now paying 22% of his $53 460 and from October 1, 28% of his $74 844 will be deducted for tax. Any income over $70 000 per month attracts 41,2% tax.


It is appropriate that the Minister of Finance adjusts the tax bands, allowing at least $48 000 tax-free per month with effect from October 1.


From January 1, 2004 at least $150 000 per month tax-free would seem reasonable, as is the case in Zambia. Our dollar is more or less equal to their kwacha now.



Simon Pitt,

Harare.

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