answersLogoWhite

0

What does PAYG means for a business?

User Avatar

Anonymous

16y ago
Updated: 8/17/2019

PAYG is an acronym for "pay as you go."

PAYG has two meanings in business - one for the mechanism by how a service is paid for and one for the manner in which a company pays taxes.

In some industries, customers have the ability to pay for services on a monthly basis (contract basis) or as they transact (PAYG basis). For example, many mobile phone companies offer both payment options to flexibly service a diverse customer base.

Taxes (either for the company directly or on behalf of employees) are usually paid on a PAYG basis. Depending on country, tax payments for a company can be made on a quarterly basis. When making payments on behalf of employees (e.g., income tax witholding, national insurance payments, etc.), those payments are made to the government on a more frequent basis.

User Avatar

Wiki User

16y ago

What else can I help you with?

Related Questions

What does the slang 'payg' stand for?

'Payg' is slang for "pay as you go," referring to a system where users pay for services or products upfront, rather than on credit or with a contract. It is commonly used in the context of mobile phone plans or prepaid cards.


What is PAYG in Australia?

PAYG stands for Pay as you Go. meaning a portion of tax is taken from your income over a period of time.


What are the PAYG rates for O2?

mama


What does PAYG stand for?

Pay as you go.


What is the key combination to display outstanding credit on nokia payg phone?

well depends on what payg provider (Orange,T mobile...)


Will a PAYG sim card work in a Contract phone?

I dont think so only if the payg sim is the same network as the contract sim


Is it possible for iPhone 3G PAYG to upgrade to iPhone 3GS PAYG?

Sorry but no, if your on PAY AS YOU GO there is no way you can upgrade. Only the plan users may upgrade.


Where can one compare tariffs from different providers on PAYG phones?

There are number of websites available that allow an individual to compare tariffs for PAYG phones. Some of these websites include uSwitch and Moneysupermarket.


Where can one get a PAYG mobile?

PAYG (Pay As You Go) phones allows you to own a mobile phone without having to worry about a contract. They can be obtained at Best Buy, Wal-Mart or Amazon.


Is PAYG an expense?

PAYG (Pay As You Go) is not an expense itself but rather a tax withholding system used to collect income tax and other mandatory contributions from employees' wages. The amounts deducted under PAYG can be considered an expense for the employer, as it reflects the cost of labor, but for employees, it represents a prepayment of their income tax obligations. Ultimately, while PAYG impacts cash flow and budgeting, it is a mechanism for tax collection rather than a direct expense.


How can O2 PAYG be topped up in the UK?

02 PAYG is a popular program in the United Kingdom. Used in conjunction with cell providers, one has the ability to earn rewards and other perks for participating.


Is LG KS360 pay as you go?

yes ks360 is a PAYG mobile