Lesotho | Tax Table Update 2024/2025

The Minister of Finance published the Income Tax (AMA) Regulation No.25 of 2024, containing the new tax rates effective 1 April 2024:

• the tax credit has been adjusted from M10 824.00 to M11 040.00 per annum, and
• the first tax bracket increased from M69 120.00 to M70 500.00 per annum.

Click here to access the public notice.

Personal Income Tax brackets 01 April 2024 – 31 March 2025 

Resident Individuals

Lower Income Limit

Upper Income Limit

Income Threshold

Marginal Rate

Tax on Threshold

0.00

70 500.00

0.00

20%

0.00

70 500.00

99 999 999 999.00

70 500.00

30%

14 100.00

Non-refundable tax credit:

11 040.00 per annum.

Impact of the Lesotho Tax Table Update 2024/2025 on PaySpace

• The new tax tables and tax credit changes have been implemented on the system effective 01 April 2024.
• All Lesotho payrolls have been recalculated.
• If the April 2024 run is closed:
  • Customers can process an adjustment on the PAYE Adjustment (Inc in Calc) (tax code: PAYE) deduction component in May 2024.
  • Alternatively, customers can create a post-interim run attached to April 2024. The post-run can be named “LesothoTax StatutoryUpdate” and will not be billed. Please note: the functionality to refund PAYE on a post-interim run will be made available in an upcoming release (release #62004).
• No other statutory changes have been announced.

Should you have any questions regarding the Lesotho Tax Table Update 2024/2025, please feel free to visit our Support page for more ways to get in touch, or email us at support@payspace.com

The PaySpace Team