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Tax Reconciliation the Maestro way

The SARS tax reconciliation process takes place bi-annually and is designed to ensure that local businesses are complying with South African tax regulations. Should a company fail to meet the tax reconciliation deadlines set by SARS, penalties apply.

As seasoned practitioners in payroll processing, the Maestro Payroll Outsourcing team ensures that our clients’ matters are in order, to satisfy the tax reconciliation requirements in line with the legislated deadlines. Our role as your outsourced payroll processing team promotes an in-depth knowledge of your employees’ Pay as You Earn (PAYE), Skills Levy Development (SDL), and Unemployment Insurance Fund (UIF) values. This positions us to attend to your bi-annual tax reconciliation as well as your monthly declarations to SARS.


Tax reconciliation and what it entails

In order to successfully complete a reconciliation submission, a business owner is required to submit a valid Employer Reconciliation Declaration (EMP501), Employee Tax Certificates [IRP5/IT3(a)s] and if applicable, a Tax Certificate Cancellation Declaration (EMP601).
For your submission to be successful, these three elements need to reconcile with each other:
  • Your monthly Employer Declarations (SARS EMP201’s) – including PAYE and/or SDL, UIF amounts due and Employment Tax Incentive (ETI), if applicable
  • Payments made (excluding penalty and interest payments)
  • All IRP5/IT3(a)’s generated – with PAYE, SDL and UIF values
All declarations should be submitted to SARS twice a year, for both the interim and annual periods.
Our team of Maestro’s ensures that your business never misses a reconciliation deadline.

Other Services We Can Help You With:

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