News FlashesApril 6, 2023

CRS News Flash 06 April 2023 – SOUTH AFRICA – Employer Annual Reconciliation Submissions

APRIL 2023 – SOUTH AFRICA
EMPLOYER ANNUAL RECONCILIATION SUBMISSIONS
It is important that employers note the following:

Annual Reconciliation Season 2022/2023

On Thursday, 30 March 2023, SARS published a notice on its website to inform employers of the annual reconciliation submission period.

The annual reconciliation declaration (EMP501) submission period opens on 1 April 2023 and closes on 31 May 2023. Employers are required to submit their annual reconciliation declarations covering the full tax year from 1 March 2022 to 28 February 2023. The EMP501 must reflect accurate and up-to-date payroll information about employees, employees’ tax (PAYE) payments made, and tax certificates (IRP5/IT3(a)s) generated.

The SARS notice includes essential information to assist employers in the reconciliation process.

 

To view the notice, follow the link.

 

 

Contact our legislation team on info@crs.co.za if you require any additional information.
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