SEPTEMBER 2024 – SOUTH AFRICA
EMPLOYER INTERIM RECONCILIATION PERIOD
It is important that employers note the following:
Employer interim reconciliation for the period 1 March 2024 to 31 August 2024 The South African Revenue Service (SARS) has issued a notice to inform employers that the employer interim reconciliation period is open from 16 September 2024 to 31 October 2024 for the 2025 employer filing season. The following improvements have been made for the interim PAYE filing season:
- A new source code, 3926, has been introduced for the savings withdrawal benefit, specifically for withdrawals from a retirement fund’s savings component/pot.
- Two source codes have been removed from the IRP5/IT3(a) certificate: source code 2039 (“Employer Contact Person Fax Number”) and source code 3137 (“Employee Fax Number”).
- Enhancements have been applied to the financial fields on the IRP5 certificate: a warning message will appear if all digits in a financial field are identical, such as 4444.00.
- The employer statement of account has been updated to display the status of payroll taxes and now includes the Employment Tax Incentive (ETI) account balance.
- Enhancements were also made to the EMP501 reconciliation process, employer deregistration process and to the ETI refund and forfeit process.
To view the details, follow the link to the SARS notice.
