Tax Chronology of South Africa

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Cecil Kilpin | April 2024 Newsletter

By |2024-04-18T12:12:59+02:00April 18th, 2024|Accounting, Business, Environmental, Finance + Economics, Newsletter, Tax|

Employer Annual Declarations (EMP501): 1 April to 31 May 2024. As an employer, it’s essential to stay informed about your tax obligations. The Employer Annual Declaration period is a crucial time when you need to submit accurate information to the South African Revenue Service (SARS). Let’s dive into the details: What is the Employer Annual Declaration (EMP501)? The EMP501 is an annual reconciliation declaration that employers must submit. It provides SARS with up-to-date payroll information about their employees. During this period, employers review their records, ensure accuracy, and report the necessary details. Key Dates: Opening Date: The Employer Annual Declaration period opens on 1 April 2024 Closing Date: Employers have until 31 May 2024 to complete and submit their [...]

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Cecil Kilpin | April 2023 Newsletter

By |2023-04-26T11:28:02+02:00April 26th, 2023|Business, Finance + Economics, Goverment, Newsletter|

Employer Annual Declarations (EMP501): Due 31 May 2023 Employers are required to submit their annual reconciliation declarations (EMP501) that reflect accurate and the latest payroll information about their employees, monthly employer declarations  (EMP201) for PAYE, UIF and SDL; payments made (excluding penalties and interest paid); and employee tax certificates (IRP5/IT3(a)s generated, covering the full tax year from 1 March 2022 to 28 February 2023. To make it easier for you to reconcile, easily and conveniently we would like to draw your attention to essential information that you need to know: Before submitting the annual EMP501 for 2023, employers must submit all outstanding monthly declarations (EMP201) and annual reconciliations (EMP501), as well as make all payments due Employers, Tax Practitioners and [...]

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