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Monday, July 21, 2008

2008 Filing Season Has Began

Hi, the SARS 2008 filing season has already began for business and below is some information which you may find useful:

SARS has developed custom-built software which allows employers to complete the entire reconciliation process easily and electronically. This SARS software will be compatible with all major payroll systems and will be available for download from or from any SARS branch from 1 July 2008. For those employers who prefer to work manually, SARS has also simplified the manual process including new IRP5 booklets which you will also be able to download or collect them from a SARS branch from 1 July 2008.

For the first time SARS will have a Filing Season for employers during which they need to complete their PAYE reconciliation process. This 60 day period will run from 1 July – 29 August 2008. It is important that your business meet this deadline because your employees cannot submit their income tax returns until you as an employer has completed the reconciliation process. Soon I'll talk about changes affecting Individual Taxpayers. Watch the space!

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