Stanbic Bank
Stanbic Bank
Stanbic Bank
Stanbic Bank
22.7 C
Kampala
Stanbic Bank
Stanbic Bank
Stanbic Bank
Stanbic Bank

URA, Stanbic Bank launch new tax payment digital solution

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The Uganda Revenue Authority (URA) and Stanbic Bank have launched a secure, convenient and affordable online payment solution that will enable taxpayers in the country to comply with their tax obligations by making payments using VISA, MasterCard and MTN Mobile money.

The new platform was launched Monday at URA Head Office in Kampala by Stanbic Bank Chief Executive Patrick Mweheire and URA Acting Commissioner General, Patrick Mukiibi.

Mukiibi said URA strives to put in place mechanisms that will stimulate compliance by leveraging the appropriate technology to reduce the time and cost of doing business.

On his part Mweheire said: “These digital solutions are a fantastic innovation to simplify payment and collection of taxes by offering greater convenience.” He added that Stanbic collects up a third of all taxes in Uganda.

The launch of this platform heralds another first from Stanbic Bank, which was the first bank to offer mobile money payment access to URA.

The new payment platform now available on the URA website and can be accessed on the laptop, tablets, phones and other mobile devices and is available to both Stanbic and non Stanbic clients

The digital payment solution will reduce time and unnecessary costs in payment activities, eliminating obstacles to compliance.

This new payment solution is in addition to the already existing tax payment solutions namely Cash, Cheque, POS with@UBAGroup (Pay Way), Mobile money (MTN), Real Time Gross Settlement (RTGS) and Electronic Funds Transfer (EFT).

How it works

The bank debits the card or mobile money wallet, processes and posts the payments into URA account. URA is notified about the payment and an electronic receipt is sent to the taxpayer. The receipt confirming payment of the tax is presented to URA.

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