The Employer Interim Reconciliation submission season is now open and South African employers are required to comply with the Employer Reconciliation Process and send monthly employer declarations (EMP501) forms that reconcile the taxes collected from employees.
South African employers are reminded of the need to comply with SARS’ Employer Reconciliation Process and submit an employer reconciliation declaration and an interim Employee Income Tax Certificate for the six-month period 1 March to 31 August 2018.
South Africa’s Income Tax Act. No. 58 of 1962 prescribes that employers must deduct the correct amount of tax from employees, pay this amount to SARS on a monthly basis, reconcile these deductions and payments during the annual and interim reconciliation, and issue tax certificates to employees.
It is that time of the year again and South African employers must comply with the Employer Reconciliation Process and submit an employer reconciliation declaration and an interim Employee Income Tax Certificate for the six-month period 1 March to 31 August 2018.
