EMP501 Season Announcement - April 1 to May 31, 2024

SARS issued a notice to inform employers of the annual Employer Annual Declarations (EMP501) period, from April 1 to May 31, 2024. Employers are urged to fulfill their tax obligations accurately and on time.

Key points from the SARS notice include:

• The necessity for employers to ensure all outstanding declarations and payments are made to avoid penalties.

• The recommendation for employers, tax practitioners, and payroll administrators to use the latest version of SARS e@syFile Employer for submissions.

• The importance of registering unregistered employees for Income Tax to facilitate a smooth tax filing season.

• The consequences of non-compliance, which include administrative penalties, potential criminal offences, and significant implications for both the employer and their employees.

SARS urges employers to fulfill their obligations accurately and on time, reinforcing the value of compliance in contributing to the nation's economic growth and well-being.