P.A.Y.E

Pay As You Earn (P.A.Y.E.) System

Employers are required to withhold each pay period, the estimated tax liability of their employees under the Pay As You Earn (P.A.Y.E) system. These amounts are deducted from the employee’s gross pay and should be remitted to the Revenue Authority by the 15^th day of the month following the period during which the tax was withheld.

Self Employed persons are required to prepay their estimated tax liability on March 15^th, June 15^th, September 15^th, and December 15^th of each year.

Individuals must file their annual tax return by April 30^th of each year. Any tax due on filing is payable in two (2) instalments: on filing at April 30^th, and by September 30^th thereafter.