2020-07-07

COVID-19 PAYE DEFERMENT TO BE PAID FROM SEPTEMBER 2020.

One of the measures to assist companies through the COVID-19 Lockdown was to defer as much of 35% of PAYE payment to SARS for April, May, June and July 2020.

No penalty would be imposed, neither would interest be charged by SARS.

But, if you have used this COVID-19 measure, the deferred payment will need to be paid back.

Payment is made in 6 installments, and the schedule of payments is:
• August’s 2020 installment - payment due by 7 September 2020.
• September 2020 installment - payment due by 7 October 2020.
• October 2020 installment - payment is due by 6 November 2020 (last business day before the 7th).
• November 2020 installment - payment is due by 7 December 2020.
• December 2020 installment - payment is due by 7 January 2021.
• January 2021 installment - payment is due by 5 February 2021.

Normal PAYE is paid from 01 August 2020.

If the installment payments are defaulted, interest will then be charged and a penalty imposed for the month defaulted.

Mark - 07:28 @ common, Industrial Relations, Human Resources, B-BBEE | Add a comment

 
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