MARCH 2020 – LESOTHO
INCOME TAX CHANGES
It is important that employers note the following:
Proposed tax changes announced in the 2020/2021 Budget Speech
During the Budget Speech delivered by the Minister of Finance, Honourable Moeketsi Majoro, on 26 February 2020, the following tax changes were proposed:
- The tax credit of M800 per month be increased to M840 per month; and
The tax bracket be adjusted from M5,090 per month to M5,350 per month on the lower tax bracket.
It should be noted that the proposed tax rates have not yet been officially published, but the Lesotho Revenue Authority has advised that these will be available on its website from April 2020.
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