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Stands for Pay As You Earn.

1: A form of taxation where tax is deducted from your paycheque before you even get it.

2: In Celtic Tiger Ireland, a term of derision for people who do proper work for reasonable pay, instead of making silly money trading in stocks or property or doing weird things with money involving multiple bank accounts and mortgages.
You work as an electrician? That's a bit PAYE, isn't it?
by Rhodoferax May 29, 2012
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to be a filipino, and talk with a filipino accent. where many ordinary words such as pack and sheet are deemed offensive, and vice versa.

see examples below
Pack dis sheet paye

Bepor you go out and play, penis your homework
by Raholio June 10, 2007
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