PAYE

Exponential Growth: Over 200,000 New Taxpayers Join PAYE Register

Huge influx of taxpayers added to PAYE register, a 14.1% increase from the previous year!

In a surprising turn of events, the PAYE register has welcomed over 200,000 new taxpayers, marking a significant 14.1% expansion from the previous financial year. The Minister of Finance revealed this astonishing growth, indicating a positive trend in employment and tax compliance. The total number of employees in the PAYE system skyrocketed from 1,422,857 in the 2021/22 financial year to an impressive 1,624,072 in the 2022/23 period.

This surge in taxpayers joining the PAYE register highlights a robust economic landscape and increased job opportunities in the country. The growing workforce indicates a burgeoning economy with more individuals contributing to the tax system, potentially boosting government revenue and public services. Such a substantial rise in the number of taxpayers demonstrates a thriving job market and a proactive approach to tax compliance.

The significant rise in the PAYE register is a testament to the nation's resilience and economic recovery post-pandemic. It showcases a positive outlook for the future, with more people securing employment and actively participating in the tax process. This exponential growth in taxpayer numbers reflects a promising financial outlook and a community dedicated to fulfilling their fiscal responsibilities.