Zim Paye Tax bands

Below are the unconfirmed tax tables for those getting paid in forex:
USD0-USD125 0%
USD126-USD500 20%
USD501-USD1000 25%
USD1001-USD1500 30%
USD1501-USD3000 35%
USD3000& above 37.5%

It is clear that the above taxes are on the high side. But also it was evident that the government has a high appetite for cash looking at the budget that was presented by Patric Chinamasa itself. The licensing fees being demanded by the Reserve bank also don't make sense if actually not being prohibitive. The government is trying not to have any budget deficit but at the same time they are finding the solution by overbuddening the tax payers to finance that. What they should have actually done was to reduce their spending than maintaining or increasing spending and "overtaxing" to cover that. The rates on taxes do not reflect that the government is using the USD and that in turn will make like more dificult for the ordinary citizen.

Prices are likely to go up instead of going doing as we would have anticipated. Importing is actually marginally going to be more expensive that it is currently because importers have to build in for the rather high customs & or taxes plus the RBZ retension portion. Also inderectly, there is the licencing fees which will have to paid and will have to be bulit in on prices.

So, I think the government should actually revise the customs and taxes rates. Our economy is not yet productive and we rely mostly on imports hence we should incentivise importers.