South Africa’s employers can expect an inspection from the South African Revenue Service (SARS) this filing season. It has made revenue recovery a top priority and recruited new staff to address payroll non-compliance, IOL reports.
The filing deadline for Employer’s Annual Declarations is on May 31, and SARS has stated that this process is critical ahead of the Personal Income Tax (PIT) Filing Season. The data employers submit helps the revenue service issue accurate auto-assessments or pre-populated tax returns for individuals, making it easy for employees to fulfil their tax obligations.
SARS is reportedly onboarding 500 recruits, with another 1,500 further recruits potentially poised to join them, as part of 'Project AmaBillions'. This special compliance drive will target tax debt and outstanding returns.
Project AmaBillions is expected to generate an additional R70 billion over the next three years.
Few official details are currently available, but the latest moves could indicate a renewed focus on employers in general, and maintenance of the PAYE system in particular.
Source: IOL
South Africa’s employers can expect an inspection from the South African Revenue Service (SARS) this filing season. It has made revenue recovery a top priority and recruited new staff to address payroll non-compliance, IOL reports.
The filing deadline for Employer’s Annual Declarations is on May 31, and SARS has stated that this process is critical ahead of the Personal Income Tax (PIT) Filing Season. The data employers submit helps the revenue service issue accurate auto-assessments or pre-populated tax returns for individuals, making it easy for employees to fulfil their tax obligations.
SARS is reportedly onboarding 500 recruits, with another 1,500 further recruits potentially poised to join them, as part of 'Project AmaBillions'. This special compliance drive will target tax debt and outstanding returns.
Project AmaBillions is expected to generate an additional R70 billion over the next three years.
Few official details are currently available, but the latest moves could indicate a renewed focus on employers in general, and maintenance of the PAYE system in particular.
Source: IOL