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Individual - Sample personal income tax calculation
Last reviewed - 28 February 2024This sample PIT calculation assumes two resident individuals whose annual income is RWF 45,000,000, each. Employee 1 is provided with an employer-owned house and car for private use, while the employer rents a house and car at RWF 1,000,000 and RWF 350,000, respectively, for Employee 2. Both of the employees have children attending school, and the employer provides an education allowance of RWF 720,000 per year to each, but paid on a monthly basis.
Individual PAYE calculation
|
Item |
Employee 1 (monthly) (RWF) |
Employee 2 (monthly) (RWF) |
|
Salary |
3,750,000 |
3,750,000 |
|
Education allowance |
60,000 |
60,000 |
|
Total cash |
3,810,000 |
3,810,000 |
|
Add: Non cash benefits (benefits in kind) |
||
|
Company-owned house provided to Employee 1 (20% of 3,810,000) |
762,000 |
0 |
|
Company-owned car provided to Employee 1 (10% of 3,810,000) |
381,000 |
0 |
|
House rental cost on behalf of Employee 2 |
0 |
1,000,000 |
|
Car rental cost on behalf of Employee 2 |
0 |
350,000 |
|
Taxable income |
4,953,000 |
5,160,000 |
|
PAYE thereon |
(1,449,900) |
(1,512,000) |
|
Employee social security contribution (3%) |
(148,590) |
(154,800) |
|
Employee maternity benefits contribution (0.3%) |
(14,859) |
(15,480) |
|
Net pay |
3,339,651 |
3,477,720 |
|
Employer social security contribution (5%) |
247,650 |
258,000 |
|
Employer maternity benefits contribution (0.3%) |
14,859 |
15,480 |
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