When dealing with the income Tax rate in Lesotho, citizens and foreigners have to put into consideration major factors. The Lesotho income Tax rate plays a key role in the country’s economy.
The sales, corporate and personal income tax rate in Lesotho are determined from different sources. The taxation system are a based, known and carried out by the regulatory bodies.
You may be asking, What is the rate of tax on salary? How many percent is tax in Lesotho? How is salary calculated in Lesotho? How is Lesotho tax calculated?
If you wish to have the details on the income Tax rate for citizens, foreigners the or expats, kindly go through the information below.
How much is Income Tax rate in Lesotho?
If you are asking to know the latest income tax rate the country, the rates are provided below.
- Personal Income Tax Rate 30%
- Corporate Tax Rate 25%
- Sales Tax Rate 15.%
Personal Income Tax Rate is collected from individuals and is imposed on different sources of income like labor, pensions, interest, and dividends. Tax Rates are an important source of income for the government of the country.
How is tax calculated on salary?
The year during which your income tax is calculated for the previous financial year is called the assessment year. Components for calculating the income tax.
|Income Slab||Tax Rate|
|Up to 2.5 lakhs||None|
|2.5 lakhs – 5 lakhs||10% of exceeding amount|
|5 lakhs – 10 lakhs||20% of the exceeding amount|
|Above 10 lakhs||30% of the exceeding amount|
Which is the most taxed country in Africa?
In 2018, Seychelles (32.4 percent), Tunisia (32.1 percent), and South Africa (29.1 percent) had the highest tax-to-GDP ratios of the 30 countries covered.
That’s all you need for the Income Tax rate in Lesotho, use the comments section below for questions.