Zimbabwe: public finances

How much tax does Zimbabwe collect?

The Zimbabwe Revenue Authority collected USD 4.71 billion in net revenue in the first half of 2026, 16.14% above its target and 46.73% more than in the first half of 2025, according to its H1 2026 performance highlights. In local currency this was ZWG 125.06 billion.

Pay-as-you-earn income tax, corporate income tax and VAT on local sales and on imports were the four largest sources, together about 60% of revenue. Corporate income tax was 47.77% above target and VAT on imports 41.20%. ZIMRA registered 37,783 new taxpayers and expects USD 5.65 billion in the second half of the year. It publishes these reports on its revenue performance page.

Official sources: H1 2026 performance highlights · revenue performance page

What is the VAT rate in Zimbabwe?

Zimbabwe's standard rate of value added tax is 15.5%, with a zero rate for some goods and services, according to the Zimbabwe Revenue Authority's VAT guide.

Since 1 January 2024, traders must register for VAT if their taxable sales exceed or are likely to reach USD 25,000, or the equivalent in Zimbabwe Gold (ZWG), over 12 months; smaller traders can register voluntarily. Refunds below USD 60 are held as credit until they reach that amount. Zero-rated supplies are taxable at 0%, so businesses making them can still reclaim VAT on their costs.

Official sources: VAT guide

How is income tax charged in Zimbabwe?

Employees in Zimbabwe pay income tax through pay-as-you-earn (PAYE) on a sliding scale, with a flat top rate on earnings above a set level, plus a 3% AIDS levy on the tax due, according to the Zimbabwe Revenue Authority's PAYE guide.

The rates are set each year in the Finance Act, and ZIMRA publishes the deduction tables. Since 1 January 2024, bonuses of up to USD 400, or the equivalent in Zimbabwe Gold, are tax-free for workers paid in foreign currency. Tax credits for medical expenses, blind, disabled and elderly people are USD 900. Employer-provided data and airtime for use outside work is taxed as a benefit at 30% of its cost.

Official sources: PAYE guide

How much does Zimbabwe owe abroad?

Zimbabwe's external debt was USD 14.40 billion at the end of 2024, equal to 33.0% of gross national income, according to the World Bank International Debt Statistics. It was USD 14.55 billion, or 41.8% of income, a year earlier.

The total covers public and private debt owed to foreign lenders. Interest and principal payments took 19.5% of export earnings in 2023, up from 6.1% in 2022. The share of income fell in 2024 mainly because gross national income rose while the debt stock was little changed.

Official sources: World Bank International Debt Statistics · 19.5% of export earnings

What is Zimbabwe's national debt?

The IMF puts general government gross debt in Zimbabwe at 38.0% of GDP in 2025. Its high point since 2005 was 2023, at 76.1% of GDP; its low point was 2005, at 22.4% of GDP. Across Sub-Saharan Africa the middle value was 53.0% of GDP, and Zimbabwe placed 39th highest of 46. World rank, highest first: 135th of 185.

What is Zimbabwe's budget deficit?

The IMF puts general government net lending or borrowing in Zimbabwe at 0.1% of GDP in 2025. Its high point since 2005 was 2020, at 0.5% of GDP; its low point was 2023, at -9.6% of GDP. Sub-Saharan Africa median: -3.0% of GDP; Zimbabwe is 5th highest of 47. Of 188 countries with 2025 data, 34th highest.

What is Zimbabwe's government revenue?

In 2025, general government revenue in Zimbabwe was 14.3% of GDP, according to the IMF. Its high point since 2005 was 2011, at 14.5% of GDP; its low point was 2008, at 1.3% of GDP. Across Sub-Saharan Africa the middle value was 18.4% of GDP, and Zimbabwe placed 37th highest of 47. Of 187 countries with 2025 data, 170th highest.

What is Zimbabwe's government spending?

The IMF puts general government spending in Zimbabwe at 14.2% of GDP in 2025. Since 2005 it has ranged from 2.6% of GDP (2008) to 21.2% of GDP (2023). It is 42nd highest of 46 in Sub-Saharan Africa, where the median is 20.8% of GDP. Of 186 countries with 2025 data, 179th highest.

What is tax revenue in Zimbabwe?

The IMF puts central government tax revenue in Zimbabwe at 7.2% of GDP in 2018. Its high point since 2009 was 2011, at 17.9% of GDP; its low point was 2017, at 5.5% of GDP. Across Sub-Saharan Africa the middle value was 12.2% of GDP, and Zimbabwe placed 29th highest of 32. World rank, highest first: 131st of 138.

What is Zimbabwe's military budget as a share of GDP?

0.6% of GDP: that is military spending in Zimbabwe for 2025, according to SIPRI. Since 2005 it has ranged from 0.2% of GDP (2023) to 2.0% of GDP (2006). Across Sub-Saharan Africa the middle value was 1.3% of GDP, and Zimbabwe placed 40th highest of 44. World rank, highest first: 134th of 149.