Overview of PAYE reconciliation process and 2007/08 policy changes. Another helpful guide brought to you by South African Revenue Service
|
|
- Gilbert Lynch
- 6 years ago
- Views:
Transcription
1 Overview of PAYE reconciliation process and 2007/08 policy changes Another helpful guide brought to you by South African Revenue Service
2 Overview of PAYE reconciliation process and 2007/08 policy changes This guide to the PAYE reconciliation process is not meant to delve into the precise technical and legal detail that is often associated with tax. It should, therefore, not be used as a legal reference. Should you require additional information concerning any aspect of taxation, you should: Contact your local SARS office Contact the National SARS Call Centre on Visit the SARS website South African Revenue Service 18 July 2008
3 This document is intended to address key questions to help with your 2007/08 PAYE submissions: What does PAYE reconciliation aim to do?... 2 What is the overall PAYE process?... 3 How do I fill out the PAYE portion of the EMP501?... 4 What is PAYE reconciliation?... 6 What is not PAYE reconciliation?... 7 What if my tax certificates do not match what I have paid SARS?... 8 Case studies 1: Adjustment for manual certificate issued... 9 Case studies 2: Adjustment for late payment commission Policy changes in 2007/08 tax year What will SARS do once I have submitted my declaration? Useful terms Who do I contact if I have any questions?
4 1 What does the PAYE reconciliation aim to do? A 2007/08 PAYE reconciliation aims to answer two questions Have I matched my actual PAYE liabilities as declared on the EMP501 with all the IRP5s for the tax year? - Have I accurately reflected the PAYE liabilities on the IRP5s? - Have I made adjustments for all errors? Why do these questions matter? This will help you Exclude liabilities or payments related to certificates issued in prior years Identify and resolve any differences between liabilities declared on your EMP201s and actual liabilities based on IRP5s Determine what is due to/by SARS for the tax year B How do I ensure the employee data is correct for accurate pre-population of tax returns? - Have I accurately matched the liabilities to employee records? This will help you Reconcile your 'to be issued' IRP5s with the taxes withheld Issue accurate IRP5s to your employees for 2007/08 tax year You will not be allowed to issue IRP5s to your employees if you are not reconciled for tax year 2007/08 2
5 2 What is the overall PAYE process? What does the employer do? 1 Run monthly payroll Run the monthly payroll to determine your current declarations and monthly liabilities Submit monthly declaration and pay withheld liabilities Compute actual annual liability as per IRP5s to be issued Match the computed liability in step 3 to the liabilities and payments and adjust for errors Submit the reconciled declaration Declare this liability on form EMP201 and submit it together with the payment to SARS by the 7 th of the month following the month of employee remuneration Compute the actual liabilities for transactions in the 2007/08 tax year based on your annual payroll: - Imported as a CSV - Manual certificates issued Remove liabilities or payments relating to certificates issued in prior years Reconcile the actual declared 2007/08 liabilities and payments to the certificates to be issued this year Account for the differences Submit your signed EMP501 and associated payroll data to SARS by August 29, 2008 Pay any adjustments owing to SARS Note: The employer will be liable to pay any adjustment owing to SARS 3
6 3 How do I fill out the PAYE portion of the EMP501? 1 Enter your revised monthly liability 3 Calculate the actual IRP5 tax liability Import payroll files Enter manual certificates 4
7 2 Enter the revised amounts paid to SARS (excluding previously issued IRP5s, penalties and interest) 4 Calculate amount due to/by SARS. This does not have to equal zero 5 Sign and submit the declaration 5
8 4 What is PAYE reconciliation? Reconciliation is... A process to match taxes declared on monthly EMP201s and the actual liabilities based on the IRP5s to be issued... which means You need to start by knowing what you have declared and what you actually owe for the year The ability to understand the difference between actual tax liabilities and payments made to SARS You need to be able to match what you owe, to the payments you have actually made A process to match back your actual liabilities to funds withheld from your employees You need to be able to work out how the total you have paid matches individual employee liabilities for their IRP5s 6
9 5 What is not PAYE reconciliation? Reconciliation is not... Just a reconfirmation of the payments for the amounts declared on your monthly EMP201 forms... which means A reconciliation can be correct even if the balance identifies that you owe money or have a credit for the tax year Note: It is possible you may have overpaid for the year, but submitting a refund may require careful documentation for this and prior years 7
10 6 What if my tax certificates do not match what I have paid SARS? Likely causes of differences between taxes withheld and payments to SARS Taxes withheld vs. actual payments Rounding errors Non 2007/08 payments amounts paid in 2007/08 tax year pertaining to another tax year for which IRP5s were previously issued Taxes withheld vs. should have paid Manual IRP5s not included in the monthly EMP201 forms Late payments such as: Commissions Overtime Directors' remunerations Tax table changes This is not an exhaustive list, just a summary of most common items 8
11 7 Case study 1: Adjustment for manual certificate issued You realise that you issued a manual certificate for R5 000 in May 2007, which was not declared on your monthly EMP201 submission The amount was withheld from the employee, but was not paid to SARS Summary of employee liability B March April May June Sample of Employer Reconciliation Declaration* PAYE SDL UIF R5 000 added to adjust for the error Total payments A Total Difference Liability and Certificate Values Total Value Of Tax Certificates Declared Liability Due by/to you C A B C You withheld R5 000 in May and should have paid a total of R to SARS but only paid R This amount should be declared on your EMP501 by adjusting the May 2007 amount to R15 000, as the certificate was issued and taxes were withheld in the 2007/08 tax year Therefore, you now have a liability of R5 000, which should be paid to SARS * Only PAYE and 4 months used for illustrative purposes 9
12 8 Case study 2: Adjustment for late payment commission You pay your employee commissions in May 2008 which were earned in January 2008 You withheld taxes and issued tax certificate in May 2008 Commissions earned by the employee End of 2007/08 tax year Taxes withheld and tax certificate issued January 2008 February 2008 May 2008 Though the payment was made in May 2008, it was to rectify the error made in January 2008 This certificate for the tax withheld should be included in the 2007/08 submissions Employer should therefore adjust the January EMP201 amount on the EMP501 to reflect the correct liability Note: Errors determined prior to filing your 2007/08 reconciliation (29 August 2008 at the latest) should be adjusted on the 2007/08 reconciliation. Thereafter any adjustments should be made on 2008/09 reconciliation. 10
13 9 Policy changes in 2007/08 tax year 2007/08 submissions You have to submit your 2007/08 PAYE declarations to be compliant If you do not submit - You will not be allowed to issue any IRP5 forms to your employees - Your employees will not receive pre-populated tax returns from SARS You do not have to be reconciled for prior years to submit your declarations for 2007/08. However, you will remain liable for those submissions Refunds If you have overpaid for the tax year 2007/08, you may be eligible for a credit from SARS The refund will not be paid out by SARS, even if it is from 2007/08, until the prior years have been reconciled Deadline All EMP501 submissions are due by August 29, 2008 No extensions will be granted and late/non submissions will be subject to penalties Directors' remuneration Current rules as set out in the EMP10 apply 11
14 10 What will SARS do once I have submitted my declaration? Final submission date for 2007/08 PAYE submissions. You do not have to be reconciled for prior years to declare for 2007/08 If the submission has no discrepancies, it will be accepted by SARS and employees will begin to receive (upon request) prepopulated tax returns SARS has the right to audit for up to 5 years 29 August 1 September 5 years If you do not submit your declarations, your employees will not receive a pre-populated tax return If you do submit, SARS will check for discrepancies in your declarations, for example: - If there is a significant difference in the liability you declared and the actual liability you owe - If the funds declared were not actually paid to SARS Once SARS has validated your declaration (i.e. your reconciliation has not been rejected), SARS will (on request) send a pre-populated 2007/08 tax return to your employees If you owe SARS you will need to pay, but if you have a credit, the refund will only be issued after the prior years have been reconciled 12
15 11 Useful terms Terms Taxpayer Tax liability Year of Assessment Transaction year CSV EMP201 EMP501 Description Individual/entity who pays tax or is subject to taxation Amount of tax withheld from the employees which is owed to SARS Is the tax year in which the income/benefit was accrued Example employee should have been paid in 2005, but was paid and taxes were withheld in 2008, the assessment year is 2005 Is the tax year the income/benefit was paid and the taxes were witheld Example - employee should have been paid in 2005, but was paid and taxes were witheld in 2008, the transaction year is 2008 CSV (Comma-Separated Variables) is a data file created from your payroll system, which can be loaded into the SARS software for creating 2007/08 submissions A form used by employers to file monthly declarations with SARS stating the total amount of taxes withheld from the employees pay cheques A form used by employers to file annual declarations with SARS stating - Monthly liabilities declared on the EMP201s as adjusted - Funds paid to SARS - Actual computed tax liability (from the IRP5s) for the year and amount due to/by SARS 2007/08 Tax year starting March 1, 2007 and ending February 29,
16 12 Who do I contact if I have any questions? General PAYE questions E-filing questions Website paye.cc@sars.gov.za info@sarsefiling.co.za Phone (08:00-17:00 excluding weekends and public holidays) (08:00-17:00 excluding weekends and public holidays) Fax Branch To find a branch closest to you, please call or go to 14
17 NOTES
18 NOTES
19
20 Lehae La SARS, 299 Bronkhorst Street, Nieuw Muckleneuk 0181, Private Bag X923, Pretoria, 0001, South Africa Telephone: , Fax: , Web:
OVERVIEW PAYE 2010 NOVEMBER
OVERVIEW PAYE 2010 NOVEMBER 1 Contents 1. Introduction... 3 2. The aim of the Pay-As-You-Earn (PAYE) reconciliation process... 3 3. What is reconciliation?... 4 4. The Pay-As-You-Earn (PAYE) process...
More informationITA88 PROCESS GUIDE ITA88 PROCESS GUIDE AN EMPLOYERS GUIDE TO THE ITA88 AGENT APPOINTMENT PROCESS
AN EMPLOYERS GUIDE TO THE ITA88 AGENT APPOINTMENT PROCESS SEPTEMBER 2010 _v2.indd 1 1 9/21/10 4:10 PM AN EMPLOYERS GUIDE TO THE ITA88 AGENT APPOINTMENT PROCESS Introduction ITA88 AGENT APPOINTMENT Who
More informationFREQUENTLY ASKED QUESTIONS MANUAL COMPLETION AND SUBMISSION OF EMP201
FREQUENTLY ASKED QUESTIONS MANUAL COMPLETION AND SUBMISSION OF EMP201 Revision: 1 Page 1 of 6 1 PURPOSE The purpose of these FAQs is to assist employers in understanding the monthly completion and submission
More informationGUIDE ON INCOME TAX AND THE INDIVIDUAL (2010/11)
SOUTH AFRICAN REVENUE SERVICE GUIDE ON INCOME TAX AND THE INDIVIDUAL (2010/11) Another helpful guide brought to you by the South African Revenue Service Foreword Guide on Income Tax and the Individual
More informationFREQUENTLY ASKED QUESTIONS COMPLETION AND SUBMISSION OF CSV. TM EMPLOYER AND ZIPCENTRALFILE RECONCILIATION DOCUMENTS
FREQUENTLY ASKED QUESTIONS Revision: 1 Page 1 of 8 1 PURPOSE The purpose of this document is to provide answers to frequently asked questions by employers in respect of creating CSV data files and submitting
More informationEXTERNAL GUIDE GUIDE FOR VALIDATION RULES APPLICABLE TO RECONCILIATION DECLARATIONS 2017
GUIDE FOR VALIDATION RULES APPLICABLE TO RECONCILIATION DECLARATIONS 2017 TABLE OF CONTENTS 1 PURPOSE 3 2 SCOPE 3 3 BACKGROUND 3 3.1 RECONCILIATION PROCESS 3 3.2 INTERIM RECONCILIATION PROCESS 3 3.3 GENERAL
More informationTax year end processing
Sage One Payroll Tax Year End Guide 1 Tax year end processing This guide will assist you with the running of your tax year end in Sage One Payroll. It is quite a simple process to run the year end by following
More informationAyanda Takela. SARS efiling and Specialist (Gauteng, Free State & Northern Cape Region)
Ayanda Takela SARS efiling and e@syfile Specialist (Gauteng, Free State & Northern Cape Region) Topics to be discussed General errors experienced on SARS efiling profiles General errors experienced on
More informationSAPA Conference Spier, Stellenbosch 04 August March
SAPA Conference Spier, Stellenbosch 04 August 2011 17 March INTRODUCTION PAYE processes and forms, over the past few years, have been aggressively modernised so as to ensure better alignment between PAYE
More informationEmployment Tax Incentive Scheme
Employment Tax Incentive Scheme Introduction Many young South Africans are excluded from economic activity, and as a result suffer unduly from unemployment, discouragement and economic marginalisation.
More informationEmployment Tax Incentive Scheme. 2014/12/09 Version
Employment Tax Incentive Scheme 1 Introduction Many young South Africans are excluded from economic activity, and as a result suffer unduly from unemployment, discouragement and economic marginalisation.
More informationThe ABC. of Capital Gains Tax for Individuals
The ABC of Capital Gains Tax for Individuals The ABC of Capital Gains Tax for Individuals FOREWORD This guide deals with some of the basic principles of Capital Gains Tax (CGT) in order to contribute to
More informationQuick Start Guide to Payroll Tax Year-End
E-Book Quick Start Guide to Payroll Tax Year-End Best practices for preparing, processing, and planning year-end payroll activity Contents Introduction Phase 1: Preparing for Tax Year-End Phase 2: Processing
More informationSECTION 4: STATEMENT OF WORK EXPERIENCE
SECTION 4: STATEMENT OF WORK EXPERIENCE Curriculum Number: 331303001 Curriculum Title: Tax Technician Learner Details Name: ID Number: Employer Details Company Name: Address: Supervisor Name: Work Telephone:
More informationGuide on Valuation of Assets for Capital Gains Tax Purposes
Guide on Valuation of Assets for Capital Gains Tax Purposes Guide on Valuation of Assets for Capital Gains Tax Purposes FOREWORD This guide provides general guidelines regarding valuation of assets as
More informationPUBLIC RELEASE. Document Classification: Official Publication. South African Revenue Service 2011
PUBLIC RELEASE Document Classification: Official Publication South African Revenue Service 2011 Page 1 of 52 Revision History Date Version Description Author/s 13 July 2010 V1.0.0 Published document SARS
More informationGUIDE FOR EMPLOYERS IN RESPECT OF THE UNEMPLOYEMENT INSURANCE FUND
GUIDE FOR EMPLOYERS IN RESPECT OF THE UNEMPLOYEMENT INSURANCE FUND Revision: 8 Page 1 of 15 TABLE OF CONTENTS 1 PURPOSE 3 2 SCOPE 3 3 REFERENCES 3 3.1 LEGISLATION 3 3.2 CROSS REFERENCES 3 4 DEFINITIONS
More informationP U B L I C R E L E A S E
P U B L I C R E L E A S E Document Classification: Official Publication South African Revenue Service 2012 Page 1 of 55 Revision History Date Version Description Author/s 13 July 2010 V1.0.0 Published
More informationGUIDE ON THE EMPLOYEES' TAX RESPONSIBILITIES REGARDING CREW IN THE BROADCAST, TECHNICAL PRODUCTION & LIVE EVENTS INDUSTRY
GUIDE ON THE EMPLOYEES' TAX RESPONSIBILITIES REGARDING CREW IN THE BROADCAST, TECHNICAL PRODUCTION & LIVE EVENTS INDUSTRY Foreword This document is a general guide dealing with the PAYE responsibility
More informationP U B L I C R E L E A S E
P U B L I C R E L E A S E Document Classification: Official Publication South African Revenue Service 2011 Page 1 of 52 Revision History Date Version Description Author/s 13 July 2010 V1.0.0 Published
More informationSTEPS FOR GENERATING ITREG-FILE FOR AS WELL AS CREATING SARS TAX CERTIFICATES & THE CSV-file for
sedert 1982 STEPS FOR GENERATING ITREG-FILE FOR e@syfile, AS WELL AS CREATING SARS TAX CERTIFICATES & THE CSV-file for e@syfile. 1. Start your reconciliation process by generating the ITREG-file for e@syfile.
More informationWelcome to the SARS Tax Workshop
Welcome to the SARS Tax Workshop The purpose of this presentation is to provide information in an easy-to-understand format and is intended to make the provisions of the legislation more accessible to
More informationPUBLIC RELEASE. Document Classification: Official Publication. South African Revenue Service 2009
PUBLIC RELEASE Document Classification: Official Publication South African Revenue Service 2009 Page 1 of 49 Revision History Date Version Description Author/s 2008/11/14 V1.0.0 Draft release for public
More information18 August 2017 The National Treasury 240 Madiba Street PRETORIA 0001
18 August 2017 The National Treasury 240 Madiba Street PRETORIA 0001 The South African Revenue Service Lehae La SARS, 299 Bronkhorst Street PRETORIA 0181 BY EMAIL: Nombasa Langeni (Nombasa.Langeni@treasury.gov.za)
More informationPAYE must be deducted by an employer from remuneration paid to an employee when the income accrues or is paid to the employee.
PAYE must be deducted by an employer from remuneration paid to an employee when the income accrues or is paid to the employee. Q How can PAYE be deducted from an accrual? Income that accrues in one tax
More information(Contact us if you need help: Call between 07:30-17:30 (Mon - Fri) or
LIVING ANNUITY WITHDRAWAL INSTRUCTION BEFORE YOU WITHDRAW ADDITIONAL INFORMATION Make an informed decision: Please consider the tax implication of your decision. You may request a tax simulation by completing
More information(Contact us if you need help: Call between 07:30-17:30 (Mon - Fri) or
RETIREMENT ANNUITY FUND WITHDRAWAL INSTRUCTION Make an informed decision: BEFORE YOU WITHDRAW ADDITIONAL INFORMATION STEP 1 COMPLETE THE FORM & AGREE TO CONDITIONS OF MEMBERSHIP Please consider the tax
More informationThe ABC. of Capital Gains Tax for Companies
The ABC of Capital Gains Tax for Companies The ABC of Capital Gains Tax for Companies FOREWORD This guide deals with some of the basic principles of Capital Gains Tax (CGT) in order to contribute to a
More informationA QUICK GUIDE TO DIVIDENDS TAX
A QUICK GUIDE TO DIVIDENDS TAX i A QUICK GUIDE TO DIVIDENDS TAX 1. INTRODUCTION TO DIVIDENDS TAX In 2007, the Minister of Finance announced that Secondary Tax on Companies (STC) would be replaced by Dividends
More information(Contact us if you need help:
PENSION OR PROVIDENT PRESERVATION FUND WITHDRAWAL INSTRUCTION BEFORE YOU WITHDRAW ADDITIONAL INFORMATION STEP 1 COMPLETE THE FORM & AGREE TO CONDITIONS OF MEMBERSHIP Make an informed decision: Please consider
More informationA STEP-BY-STEP GUIDE TO THE EMPLOYER RECONCILIATION PROCESS
EF NO. Trading or Other Name: Transaction Year: Time Stamp: 21159840 A STEP-BY-STEP GUIDE TO THE EMPLOYE ECONCILIATION POCESS Transaction Year (CCYY) Period of econciliation (CCYYMM) Business Information
More informationTax and ETI Amendments 2017/2018
Tax and ETI Amendments 2017/2018 Contents 1 Employment Tax Incentive (ETI) Changes... 2 1.1 Wage Qualifying Test... 2 1.1.1 Before March 2017... 2 1.1.2 From March 2017... 3 1.1.3 Employed and Remunerated
More informationFrom IRP5 to tax assessment 15 minutes CPD
From IRP5 to tax assessment 15 minutes CPD By ADV. CARIEN VAN DIJK IRP5s are somewhat like family: they can cause you a lot of headaches but you can t (and probably don t want to) live without them. This
More informationefiling Technical Challenges
efiling Technical Challenges 23 February 2015 Presented By: Anton Krynauw Agenda Request Tax Types Error on efiling Override Functionality Registration of New Taxpayers on efiling Addressing Questions
More informationCape Town Johannesburg Durban
APPOINTMENT AS ACCOUNTANTS TO: SIR / MADAM We hereby wish to confirm our appointment as accountants and financial advisors to the above business and its owners / members / directors. The terms and conditions
More informationTax tables 2019/2020 (year of assessment ending 29 February 2020)
BUDGET SPEECH 2019/2020 ALL YOU NEED TO KNOW Tax tables 2019/2020 (year of assessment ending 29 February 2020) Income tax: Individuals and special trusts Taxable income Rates of tax 0-195 850 18 % of taxable
More informationTax Guide for Micro Businesses 2010/11. Turnover Tax. for Small Businesses. Tax Guide For Micro Businesses 2010/11 - Page 1
Tax Guide for Micro Businesses 2010/11 Turnover Tax for Small Businesses Tax Guide For Micro Businesses 2010/11 - Page 1 TT Comprehensive Guide.indd 1 TAX GUIDE FOR MICRO BUSINESSES 2010/11 The guide contains
More informationExternal Guide on how to submit a Request for Remission
External Guide on how to submit a Request for Remission External Guide on how to submit a Request for Remission A CONTENTS 1. INTRODUCTION 2 2. DETAILED PROCEDURES (SUBMIT RFR1 VIA efiling) 4 2.1. LOGON
More informationREVISION HISTORY REV DESCRIPTION OF CHANGE AUTHOR APPROVAL OWNER 0 Initial Release A Scheepers GM Operational Services
AS-SDL-1 REVISION HISTORY REV DESCRIPTION OF CHANGE AUTHOR APPROVAL OWNER Initial Release A Scheepers GM Operational Services GM Operational Services 1 2 3 4 TYPE OF REFERENCE Legislation and Rules Administered
More informationP U BLI C RELEAS E. Document Classification: Official Publication. South African Revenue Service
P U BLI C RELEAS E This document specifies the requirements for the generation of an import tax file for the yearly as well as the interim submission. The requirements as defined in this version of the
More informationPoints Of Discussion
Provisional Tax Provisional Tax Points Of Discussion Overview Who is liable for Provisional Tax Who is not liable Exemption: Interest Income Estimates of Taxable Income When is Provisional Tax Paid Provisional
More informationTax, ETI and UIF Amendments 2018/2019
Tax, ETI and UIF Amendments 2018/2019 Contents 1 General Explanatory Note 3 2 Explanation of Changes Affecting the System 3 2.1 Reimbursive Travel Allowance Included in Remuneration 3 2.2 Certain Dividends
More informationSource Codes. New Source Codes and Validations
Source Codes New Source Codes and Validations Welcome to the SARS Tax Workshop The purpose of this presentation is merely to provide information in an easily understandable format and is intended to make
More informationEmployer Easy File Q & A
Employer Easy File Q & A Trouble Shooting Solutions Employer installed e@syfile Employer version 6.0.0 and having troubles login: Confirm if employer made a backup in version 5.0.9 If Yes, copy version
More informationefiling Account Management Guide - Payment Allocation
efiling Account Management Guide - Payment Allocation CONTENTS 1. How to obtain a payment listing... 1 2. How to allocate a payment... 3 3. How to re-allocate a payment... 6 4. How to request a payment
More informationD-BIT Payroll. Tax Year End Guide - Preparation And Procedures For Tax Year End D-BIT SYSTEMS (Pty) Ltd D-BIT Systems (Pty) Ltd
D-BIT SYSTEMS (Pty) Ltd RegNo: 87/0332407 7 Boskruin Business Park Bosbok Rd Boskruin South Africa PO Box 1950 Randpark Ridge 2156 South Africa D-BIT Payroll Tax Year End Guide - Preparation And Procedures
More informationPoints of Discussion
Provisional Tax Points of Discussion Overview of Provisional Tax Who is liable for Provisional Tax Exclusions for Provisional Tax IRP6 Submission on efiling Payments on efiling Payment dates for 2019 YOA
More informationP U BLI C RELEAS E. Document Classification: Official Publication. South African Revenue Service 2014
P U BLI C RELEAS E Document Classification: Official Publication South African Revenue Service 2014 04/2014 Page 1 of 112 Revision History Date Version Description Author/s 13 July 2010 V1.0.0 Published
More informationTough New Penalties for outstanding income tax returns
Tough New Penalties for outstanding income tax returns New penalties System to be implemented as from 23 November 2009 Penalties 1 INTRODUCTION Individual taxpayers have a window of opportunity until 20
More informationEmployment Tax Incentive (ETI)
ETI 2017 Employment Tax Incentive (ETI) The ETI is an incentive aimed at encouraging employers to hire young work seekers. It was implemented with effect from 1 January 2014 The aim of this incentive was
More informationWhat s new at SARS? VAT COMPLIANCE
This image cannot currently be displayed. This image cannot currently be displayed. 2015/11/11 What s new at SARS? VAT COMPLIANCE 1 This image cannot currently be displayed. This image cannot currently
More informationWelcome to the SARS Tax Workshop
Tax Directives Welcome to the SARS Tax Workshop The purpose of this presentation is merely to provide information in an easily understandable format and is intended to make the provisions of the legislation
More informationOmission of source code 4582
Return Submission ETI Omission of source code 4582 With the implementation of the Retirement Reform requirements, information code 4582 and its value were omitted from the submission file created by e@syfile
More informationD-BIT Payroll. Employees Remuneration for UIF, SDL, PAYE. D-BIT SYSTEMS (Pty) Ltd D-BIT Systems (Pty) Ltd) 2/24/2012, 3:18 PM
D-BIT SYSTEMS (Pty) Ltd RegNo: 87/033407 D-Bit Building 18 Bosbok Rd Boskruin South Africa PO Box 1950 Randpark Ridge 156 South Africa D-BIT Payroll Employees for UIF, SDL, PAYE 01... D-BIT Systems (Pty)
More informationThe Tax Shop SA BUSINESS GUIDE IN THE BEGINNING. Accounting. Payroll. Taxation. BUSINESS GUIDE FOR SOUTH AFRICA
SA GUIDE Starting up a new business can be very exciting but also very challenging! There are many factors which all entrepreneurs need to consider and whether you are starting up or have been operating
More informationInstant Payroll Set-up and Quick Start Guide
Instant Payroll Set-up and Quick Start Guide Logging Setting Up new Entity/Business The first time you login, you will need to fill in the following Business details: Enter your Business name Registration
More informationBudget Highlights 2018
Budget Highlights 2018 14 March 2018 Budget Highlights Value-Added Tax rate increases from 14% to 15% on 1 April 2018 Limited relief for the effect of inflation in adjusting Personal Income Tax rates resulting
More informationWelcome to the SARS Tax Workshop
Welcome to the SARS Tax Workshop The purpose of this presentation is merely to provide information in an easily understandable format and is intended to make the provisions of the legislation more accessible
More informationService Charter. South African Revenue Service Service Charter
Service Charter South African Revenue Service Service Charter 1 South African Revenue Service Your Rights Obligations and Service timelines 2 Service Charter WHAT WE DO IN SOUTH AFRICA We, the South African
More informationThe Easy2Understand Tax Guidebook for SMEs
The Easy2Understand Tax Guidebook for SMEs TABLE of contents Introduction OnE: Types of Tax as they relate to SMEs What is VAT? What is PAYE, UIF, SDL? What is Dividends Tax? What is Customs and Excise?
More informationMINUTES OF THE STATEMENT OF ACCOUNTS DISCUSSION WITH THE OFFICE OF THE TAX OMBUD HELD ON 6 NOVEMBER 2017 AT 87 FRIKKIE DE BEER STREET, MENLYN.
MINUTES OF THE STATEMENT OF ACCOUNTS DISCUSSION WITH THE OFFICE OF THE TAX OMBUD HELD ON 6 NOVEMBER 2017 AT 87 FRIKKIE DE BEER STREET, MENLYN. ATTENDEES: Eric Mkhawane Gert van Heerden Talitha Maude Sibusiso
More informationVDP applications. August 2015
VDP applications August 2015 Overview for this webinar VDP Relief offered under the VDP; Overview of the VDP process; When VDP is not available: Pending or current audit/investigation Requirements for
More informationNATIONAL SETTLEMENT DEPOSITORY (NSD) RULES FOR TAX PROCEDURES under the Russian Tax Code
Appendix 1 to NSD s Order No. 341 dated 31 December 2015 NATIONAL SETTLEMENT DEPOSITORY (NSD) RULES FOR TAX PROCEDURES under the Russian Tax Code Moscow TABLE OF CONTENTS 1 General Provisions 3 2 Terms
More informationEXTERNAL GUIDE. How to efile your Provisional Tax Return
1. Register For efiling You will need to register as an efiling user before you can file your provisional tax return electronically. To register, go to www.sarsefiling.co.za 1.1. Click on Register 1.2.
More informationCANDIDATE NUMBER No Aspect of the Answer Marks Candidate Mark Obtained 1 To Mr. Anil Naidoo
CANDIDATE NUMBER No Aspect of the Answer Marks Candidate Mark Obtained To Mr. Anil Naidoo From Tax Manager Subject Tax implications of issues discussed Date 4 December 207 Sub Total Scope We refer to our
More informationIncome Tax. Tax Guide for Small Businesses 2015/16
Income Tax Tax Guide for Small Businesses 2015/16 Preface Tax Guide for Small Businesses 2015/2016 This guide is a general guide dealing with the taxation of small businesses. This guide is not an official
More informationPayment of yield in the OM system Decision of Euroclear Finland s CEO. To: Issuers Account operators Clearing parties Issuer agents
Payment of yield in the OM system Decision of Euroclear Finland s CEO To: Issuers Account operators Clearing parties Issuer agents Reference to the Rules: 3.3.20 Ratified: 29 April 2015 Entry into force:
More informationTCS (Tax Clearance Status) November 2018
TCS (Tax Clearance Status) November 2018 Welcome to the SARS Tax Workshop The purpose of this presentation is merely to provide information in an easily understandable format and is intended to make the
More informationTax Healtchecks. Mbiki 2016 Grant Thornton International Ltd. All rights reserved.
Tax Healtchecks Mbiki Kamanjiri @ 2016 Grant Thornton International Ltd. All rights reserved. Preamble Section 15(2)(g) Then the Pharisees went and plotted how they might entangle Him in His talk.. Is
More informationLMC Express (Pty) Ltd
LMC Express (Pty) Ltd (Registration number: 1997/012971/07) Manual in terms of section 51 of the Promotion of Access to Information Act, 2 of 2000 Promotion of Access to Information Act, 2 of 2000 (The
More informationP U BLI C RELEAS E. Document Classification: Official Publication. South African Revenue Service
P U BLI C RELEAS E This document specifies the requirements for the generation of an import tax file for the yearly as well as the interim submission. The requirements as defined in this version of the
More informationTAXATION IN SOUTH AFRICA 2016/7
Retirement Fund March 2016 TAXATION IN SOUTH AFRICA 2016/7 Your Retirement - Our Passion Sentinel Retirement Fund Reg No 12/8/1215 Sentinel House 1 Sunnyside Drive Sunnyside Park PARKTOWN 2193 P O Box
More informationConstruction Industry Scheme
Construction Industry Scheme The Construction Industry Scheme (CIS) sets out special rules for tax and national insurance (NI) for those working in the construction industry. Businesses in the construction
More informationTAX GUIDE FOR SMALL BUSINESSES 2013/14
SOUTH AFRICAN REVENUE SERVICE TAX GUIDE FOR SMALL BUSINESSES 2013/14 Another helpful guide brought to you by the South African Revenue Service Preface Tax Guide for Small Businesses 2013/14 This is a general
More informationIndividual Income Tax
Individual Income Tax Welcome to the SARS Tax Workshop The purpose of this presentation is merely to provide information in an easily understandable format and is intended to make the provisions of the
More informationEXTERNAL REFERENCE GUIDE SECURITIES TRANSFER TAX. EXTERNAL GUIDE - SECURITIES TRANSFER TAX GEN-PAYM-11-G01 Revision: 3 EFFECTIVE DATE:
2013 EXTERNAL REFERENCE GUIDE SECURITIES EXTERNAL GUIDE - SECURITIES Revision: 3 EFFECTIVE DATE: 2013.11.30 DISCLAIMER The information contained in this guide is intended as guidance only and is not considered
More informationGuide from. A guide to Income tax self-assessment
Guide from Tel: 01865 379272 www.crmoxford.co.uk A guide to Income tax self-assessment Increasing numbers of tax payers are affected by self-assessment, including the self-employed and paid company directors.
More informationTax data card 2018/2019
Tax data card 2018/2019 1 Contents 1 Individuals and trusts 4 Companies 5 Capital allowances 6 Capital gains tax 7 Tax Administration Act penalties 8 Value-added tax 8 Other taxes, duties & levies 10 Exchange
More informationEMPLOYER DIGEST EMPLOYER DIGEST NOW ONLINE ONLY CREDIT FOR OP&F EMPLOYER OVERPAYMENTS REVISITED 8/1/2018
Page 1 of 5 EMPLOYER DIGEST SUMMER 2018 EMPLOYER DIGEST NOW ONLINE ONLY Beginning with this summer edition, the Employer Digest will only be sent by email to employers. No print version of the Digest will
More informationEXTERNAL FREQUENTLY ASKED QUESTIONS DISPUTE ADMINISTRATION
EXTERNAL FREQUENTLY ASKED QUESTIONS Revision: 5 Page 1 of 9 1 PURPOSE These frequently asked questions (FAQ) deal with the basic principles of objections and appeals applicable to individual and corporate
More informationLaw Firm Self-Report Guidelines to Complete the Self-Report
These guidelines are designed for the Law Firm Self-Report. A separate FAQ document has been prepared for the accountants to assist in the completion of the Accountant s Report. A user guide has also been
More informationEconomic Landscape of South Africa
Economic Landscape of South Africa INTRODUCTION One of the leading economies in Africa, with a well-developed infrastructure and established trade links with the rest of the continent, South Africa is
More informationThe Start-up Brief. This FAQ sheet specifically sets out to answer the following questions:
The Start-up Brief Tax Issues This FAQ sheet forms part of a series prepared by postgraduate students from the University of Manchester s School of Law, in conjunction with the Legal Advice Centre. They
More informationException Report Guide. August 2018
Exception Report Guide August 2018 Quick Payroll Exception Error Guides We understand your day-to-day challenges; this is why we want to try to make your business life easier. We have prepared this guide
More informationE-Remittance How-to EMPLOYER REPORTING INSTRUCTIONS
When remitting your contributions electronically (E-Remit), you will be asked to complete several steps to make sure the information submitted meets pension plan standards. Before you begin, it might be
More informationAPPLICATION OF SECTION 9(2)(i) AND SECTION 10(1)(gC) AND OF THE INCOME TAX ACT (NO. 58 OF 1962)
7 Novmeber 2014 Mr C. Axelson The National Treasury 240 Vermeulen Street PRETORIA 0001 Mr V. Symington Lehae La SARS 299 Bronkhorst Street Nieuw Muckleneuk PRETORIA 0181 Ms A. Collins Lehae La SARS 299
More informationPAYROLL COMPLIANCE by Ron Warren, CA(SA)
PAYROLL COMPLIANCE by Ron Warren, CA(SA) When considering the great range of topics that fall under the heading of Payroll compliance and the fact that I have just over an hour in which to cover them,
More informationColorado Income Tax Withholding Tables For Employers
DR 1098 (12/23/16) Colorado Income Tax Withholding Tables For Employers What s Inside? Electronic Filing Information Filing periods and requirements effective January 1, 2017 Income Tax Withholding Tables
More informationKURLAND ACCOUNTING SERVICES
KURLAND ACCOUNTING SERVICES COMPANY PROFILE Paperworks Suite 354 Private Bag X043 Benoni, 1501 Tel: 011 849 7478 Cell: 082 458 6908 Fax: 086 671 1669 Email: info@kurlandaccounting.co.za Website: www.kurlandaccounting.co.za
More informationInternal Accounting Procedures. Approval / Amendments June 24, 2015 (AGM) Amendment 1 Amendment 2
Internal Accounting Procedures Approval / Amendments Approval Date June 24, 2015 (AGM) Amendment 1 Amendment 2 This manual addresses Community Futures Big Country Accounting Procedures; its importance
More informationGUIDE TO DETERMINE FRINGE BENEFIT VALUE ON ACCOMMODATION
GUIDE TO DETERMINE FRINGE BENEFIT VALUE ON Revision: 3 Page 1 of 14 TABLE OF CONTENTS 1 PURPOSE 3 2 SCOPE 3 3 REFERENCES 3 3.1 LEGISLATION 3 3.2 CROSS REFERENCES 3 4 DEFINITIONS AND ACRONYMS 3 5 BACKGROUND
More informationPayroll Processing Previous Tax Year Payslip Adjustments
Payroll Processing Previous Tax Year Payslip Adjustments Capturing of Adjustments for February in the Previous Tax Year In order to capture adjustments for previous Tax Years it is necessary to process
More information24 November 2016 The National Treasury 240 Vermeulen Street PRETORIA 0001
24 November 2016 The National Treasury 240 Vermeulen Street PRETORIA 0001 The South African Revenue Service Lehae La SARS, 299 Bronkhorst Street PRETORIA 0181 BY EMAIL: Mmule Majola (mmule.majola@treasury.gov.za)
More informationINTERCODE PAYROLL V5.0.0 RELEASE NOTES
INTERCODE PAYROLL V5.0.0 RELEASE NOTES BEFORE INSTALLING THE UPDATE It is recommended that you make backup copies of all your existing employer files before you install any updates to Intercode Payroll.
More informationEMP101e. PAYROLL TAXES Application for registration /06/30 SP V3.010
EMP101e PAYROLL TAXES Application for registration www.sars.gov.za EMP101e FOR OFFICE USE Office date stamp PAYE Reference number 7 SDL Reference number UIF Reference number Area Magisterial district L
More informationDRAFT GUIDE TO THE EMPLOYMENT TAX INCENTIVE
SOUTH AFRICAN REVENUE SERVICE DRAFT GUIDE TO THE EMPLOYMENT TAX INCENTIVE Another helpful guide brought to you by the South African Revenue Service Preface Draft Guide to the Employment Tax Incentive The
More informationFinancial Instructions No 1 of 2017 Examination of Payment Vouchers Prior to Disbursement
Financial Instructions Examination of Payment Vouchers Prior to Disbursement Financial Instructions No 1 of 2017 Examination of Payment Vouchers Prior to Disbursement 1. The following financial instructions
More informationChange, the new certainty
Change, the new certainty Tax Facts February 2018/2019 Income Tax Residence basis of taxation South Africa has a residence basis of taxation. Residents are taxable on worldwide income and capital gains,
More informationCertified copy of South African green bar-coded ID/new smart card ID or valid passport, with visible photograph and legible text.
HOLLARD LIVING ANNUITY - INVESTMENT APPLICATION 1. Important Information 1.1. The Hollard Living Annuity is underwritten by Hollard Life Assurance Company Limited. 1.2. Hollard Investments is a division
More informationCertified copy of South African green bar-coded ID/new smart card ID or valid passport, with visible photograph and legible text.
HOLLARD LIVING ANNUITY - INVESTMENT APPLICATION 1. Important Information 1.1. The Hollard Living Annuity is underwritten by Hollard Life Assurance Company Limited. 1.2. Hollard Investments is a division
More information