Attached is an excel sheet capable of calculating PAYE and Pension based on Tanzania taxation system as from 1 July 2016 financial year.
The new PAYE system include the following deduction levels
- Salaries equal or below TZS. 170,000 after pension deduction has a PAYE = 0
- Salaries between TZS. 170,001 and 360,000 after pension deduction has a PAYE = 9% of the balance that exceed 170,000
- Salaries between TZS. 360,001 and 540,000 after pension deduction has a PAYE = 17,100+20% of the balance that exceed 360,000
- Salaries between TZS. 540,001 and 720,000 after pension deduction has a PAYE = 53,100+25% of the balance that exceed 540,000
- Salaries equal or above TZS. 720,001 after pension deduction has a PAYE = 98,100+30% of the balance that exceed 720,000
Example of PAYE and pension calculation based on a gross salary of TZS. 1,500,000/=
If you need a customized excel sheet for staff Pay Slip with PAYE and Pension Calculator please contact me
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