PaySpace Blog for Africa

On the 14th of June 2023, the Madagascar Ministry of Labour, Employment, Public Service and Social Laws published Decree No. 2023 - 563, fixing the minimum wages for hiring and seniority by professional category and the minimum monthly remuneration.T...

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As per the MRA, the minimum and maximum basic wage or salary on which contributions to the National Savings Fund (NSF) are payable, has been adjusted as from 01 July 2023. Click here for more details. NSF Ceiling July 2023 The NSF Minimum and Ma...

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In terms of Statutory Instrument 64 of 2022 gazetted on 01 April 2022, the monthly insurable earnings ceiling is now reviewable quarterly.In view of this, we would like to advise that the new ceiling for the months of July, August, and September (Q3)...

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Global Payroll Association Awards 2023 It is with great pride that we share the news of two international awards we have received.  In 2019, we were the first African business to win 'Payroll Software Supplier of the year' at the annual Global Payr...

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South Africa Interest Rate Change The “official rate of interest” for calculating the taxable benefit on low interest or interest-free loans has increased by 0.50% with effect from 01 June 2023. Click here for the South African Reserve Bank websi...

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The Minister of Finance and Economic Affairs in his Budget Statement to Parliament in March 2023, announced new measures for Domestic Taxes.The measures became effective April 2023, following the publication of the Taxation (Amendment) Act.The follow...

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As a business, navigating every new tax increase that is enforced can be time-consuming and difficult. However, if you missed the Nation Budget Speech, or have forgotten what was announced, we've got you covered! In this article, we will discuss some...

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The Written Law (Miscellaneous Amendment) Act No.10 of 2022 assented on 22 December 2022, amended the Zanzibar Social Security Fund Act, No.2 of 2005 by increasing the total monthly employer contribution from 13% to 14%, effective January 2023. Th...

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In terms of Statutory Instrument 64 of 2022, gazetted on 01 April 2022, the monthly insurable earnings ceiling is now reviewable quarterly. The insurable earnings ceiling for the months of April, May and June 2023 is ZWL 518 239.00. Click here to...

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