Somali Direct Investment Opportunities

URA Increases PAYE

From 30% PAYE Is Now 40%

Uganda Revenue Authority, the body responsible for tax collection in the country, has today October 11, 2022, released a statement to the effect that PAYE (pay as you earn) tax has been increased. For VAT,  a validation control was added.

The new tax threshold that will affect filing for VAT where shedule 3 of the monthly VAT return, a validation control was added against the “VAT declared” at importation.

PAYE return under schedule 1 of the monthly PAYE return, the tax rate for computation of PAYE for employees liable to “fixed rate” was raised from 30% to 40%

So all tax payers filing tax returns for the month of September, will take into account all those changes affecting the two types of taxes commencing with October 04, 2022 filings.

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All tax payers are accordingly advised to download a new tax return filing template which is readily available at URA portal www.ura.go.ug

Chris Kato

Uganda Today is a source of analytical, hard and entertaining news for audiences of all categories in Uganda and internationally. Uganda Today cut its teeth in Ugandan media industry with its print copies hitting the streets in October 2014. We are heavily indebted to all our publics and stakeholders who support our cause in one way or the other. To comment on our stories, or share any news or pertinent information, please follow us on: Facebook: Uganda Today Twitter: @ugtodaynews WhatsApp:+256 702 239 337 Email: ugandatodayedition@gmail.com Website: https://www.ugandatoday.co.ug

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