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Stanbic bank make tax payment easy
Stanbic Bank’s Chief Executive, Patrick Mweheire

Stanbic Bank Uganda and Uganda Revenue Authority Makes tax payment Easy

All Tax payers are now able to pay their tax duties by using VISA, MasterCard and MTN Mobile money the secure convenient and affordable online method that is launched by Stanbic bank together with URA (Uganda Revenue Authority).

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The online platform is easily accessed by both Stanbic and non Stanbic clients on URA via smartphones, tablets and your computer.

How to carry out the online Payment

A taxpayer logs onto URAand request for a Payment Registration Number (PRN). Thereafter, complete payment using the Stanbic payment tab by simply entering the relevant Visa /Master card details or MTN mobile money account

The bank debits your card or mobile money account, 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.

This online payment system was tested from December 1st 2017 to January 31st 2018 and over UGX 74M was collected in this testing pharse.

The electronic tax payment platform was launched in March 2017 and since its launch, 4.5bn has been gathered through this platform

The URA Commissioner General Patrick Mukiibi believes the online tax payment solution , would reduce time and unnecessary costs in payment activities, eliminating obstacles to compliance.

Patick said: “ URA Typically aspires for improvements by putting in place mechanisms that will motivate compliance by leveraging the appropriate technology to reduce time and cost of doing business”.

Stanbic Bank’s Chief Executive, Patrick Mweheire stated, “The Mobile money and digital solutions are a fantastic innovation that will simplify the payment and collection of taxes by offering greater convenience”.

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

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About nasasira benjamin

nasasira benjamin
Posted by benjamin, An associate Author & Editor at newslexpoint, he loves writing especially articles in entertainment and lifestyle aswell as editing.
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