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Dear Clients,
EMP501 RECONCILIATION
This serves as a reminder that your bi-annual Employer Reconciliation Declaration (EMP501 Reconciliation) is due for submission to SARS by no later than 31 May 2022. Late submissions will impose penalties (equal to 1% of the year's PAYE, for each month the return is outstanding, up to 10% of the year's PAYE).
It is important to submit accurate reconciliations – a SARS rejection can create an additional administrative burden for your company.
Should you require our assistance in this regard, please contact our Tax Department or contact your contact Partner at MGI Bass Gordon.
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