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BoU tops PAYE contributor’s list

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The Uganda Revenue Authority (URA) has today released a list of the top Pay As You Earn (PAYE) taxpaying institutions, with the Bank of Uganda emerging best.

The national Social Security Fund, Stanbic Bank and URA itself complete the top four top PAYE remitters for employees earning more than Shs 235,000 per month.

PAYE is deducted by employers and remitted on behalf of their employees to URA, and according to a statement released by the URA Commissioner General Doris Akol, PAYE contributes 15 per cent of  revenue collection, contributing Shs 1.9trillion in the financial year 2016/ 2017. PAYE also registered a six per cent gross compared to financial year 2015/ 2017.

Other top PAYE contributors include Centenary Bank, Makerere University, Nile Breweries Ltd. the Parliament of Uganda, National Water and Sewerage Corporation (NWSC).

Others are: the Civil Aviation Authority, MTN Uganda, UMEME Ltd, Standard Chartered Bank, Barclays Bank, Airtel Uganda, DFCU Bank, Hima Cement and Uganda Breweries.

 

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