Cape Town - The SA Revenue Service (Sars) has warned that time's running out for employers to submit their payroll information.
“Sars wishes to remind employers of their legal obligation to submit payroll information on or before the deadline of Sunday, May 31," the revenue service said in a statement.
“The data should cover the transaction period March 1, 2019, to February 29, 2020, in respect of monthly employer declarations submitted, payments made and IRP5/IT3(a)s generated.
“This payroll data is of vital importance to Sars.
"First, it gives a reconciled account of what amounts of tax the employer deducted from the taxable remuneration of each of its employees.
"Second, it shows what amount of tax the employer has paid to Sars on behalf of the employee. It also records other allowances that an employer pays to an employee as part of their remuneration benefits.”
For more detail on the PAYE process and the tax relief measures, employers can visit the PAYE page on the Sars website.
Meanwhile, the revenue service has raised R711 000 in the first month of an initiative by its employees to collect money in support of those in need due to the impact of the Covid-19 pandemic which will be handed over to the Solidarity Fund on behalf of its employees.
Sars commissioner Edward Kieswetter said: “To date, we received a total of R1.8 million pledges and we will be running this initiative monthly and are encouraging more of our employees to participate.
“Nobody in this country can be unaware and unmoved by the severe hardships being suffered by so many of our people, and which has been exacerbated by this pandemic.
“I am pleased that my colleagues at Sars have joined me in contributing from our own salaries. A total of 451 employees have asked that money be deducted from their monthly salary as a donation to the Solidarity Fund,” Kieswetter said.