SARS has announced the opening of the 2013 Annual PAYE reconciliation filing season – All submissions to be made from 01 April – 31 May 2013.
What does this process entail?
All South African employers are required to reconcile and submit PAYE, UIF and SDL contributions for the period 01 March 2012 to 28 February 2013. This process entails a monthly reconciliation of the amounts deducted from your employees vs. the total amounts paid over to SARS as part of your EMP201 submission. Any differences will have to be corrected/declared and any declared differences may attract penalties and/or interest imposed by SARS.
Furthermore, SARS requires employers to submit accurate and complete employee tax certificates for the year.
SARS will reject employee tax certificates that do not have an income tax number and the e@syFile™ Employer system will issue the submitting company a message declaring that penalties can be raised on the employer as a result of the missing information. Employers must confirm their acceptance of the SARS penalties procedure before their companies can continue with reconciliation and submission. SARS also intends increasing employer penalties applying to employee tax certificates that do not have a registered tax number.
If your business needs to register employees to obtain a tax reference number, you can either go into a SARS branch, or you can log onto the e@syFile™ Employer system and load your employees manually. To follow the verification status of the tax reference number, you can use the ITReg functionality of the e@syFile™ Employer system and follow a synchronisation process to obtain a CSV file with their employees’ tax reference numbers.
To assist employers in making this their easiest submission to date, we’ve published a quick 8 Point checklist. Get your copy now!
The first step for employers is to ensure that they download the latest version of the e@syFile™ Employer system from the SARS website www.sarsefiling.co.za.
It is critical that companies download and install this software before conducting their PAYE, SDL and UIF reconciliations to ensure accuracy and compliance with SARS requirements.
Employers must take note that any information submitted using a previous version of the e@syFile™ Employer system, will not be accepted by SARS.
Employers are advised to backup their current information on their computers prior to installing a new version of e@syFile™ Employer, as the installation may delete the current information.
All done – what’s next?
This year it is even easier to do your Employer Annual Reconciliation as no changes have been introduced. Just follow these simple steps to submit a complete, accurate and balanced EMP501 and your IRP5/IT3(a)s:
1. Use the latest version of e@syFile™ Employer software
2. Import the electronic IRP5/IT3(a) CSV files
3. Reconcile your EMP501
4. Beat the deadline of 31 May 2013.
Our payroll systems provide accurate monthly payslips and reports required for the monthly/annual statutory returns (EMP201 and WCA), along with electronic IRP5?s at the end of the tax year for your employees – no manual calculations required and saving you precious time!