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SA Reconciliation Filing Deadline Imminent

by Robert Lee,, London

27 May 2015

The South African Government has reminded firms that all employer annual reconciliation declarations, employee tax certificates, and, where applicable, tax certificate cancellation declarations for the period March 1, 2014, to February 28, 2015, must be submitted to the South African Revenue Service (SARS) before the end of May.

SARS said that the relevant forms - EMP501; IRP5/IT3(a)s, and EMP601 - are due by May 29, 2015. "It is crucial for employers to submit their annual reconciliation within the deadline in order for SARS to issue taxpayers with IRP5/IT3 (a) certificates. These allow people to file their personal income tax returns on time during tax season," the tax authority stated.

There are three elements on the EMP501 employer annual reconciliation declaration that must reconcile for the submission to be successful. These are: Monthly Employer Declarations (EMP201s) reflecting monthly PAYE (pay-as-you-earn), UIF (Unemployment Insurance Fund), and SDL (Skills Development Levy); payments made (excluding penalty and interest payments); and Employee Tax Certificates [IRP5/IT3 (a)s] generated.

SARS said that declarations can be submitted via eFiling, which is available to employers submitting up to 20 Employee Tax Certificates, or via the e@syFile Employer service, which can be used for any number of tax certificates. The tax authority stressed that manually completed payroll tax forms are no longer accepted.

"Employers are encouraged to avoid the last-minute rush and ensure that they have enough time for corrections if required," said SARS.

South Africa's annual tax season will commence on July 1, 2015.

TAGS: South Africa | tax | business | interest | payroll | tax authority | Africa | Tax

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