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 [email protected]
The PaySpace Team