Palenque works closely with you to provide the best employees’ tax solutions for your company for both local and expatriate employees.  We provide payroll services to assist you with the day to day running of all employee related functions.  We also provide you with accounting services to ensure that you do not have to be concerned about the financial side of your company and can concentrate on providing the best service to your clients.  We can also assist with your VAT and company tax compliance at the South African Revenue Service (“SARS”).

Palenque can also assist with ensuring that your personal tax affairs are up to date with SARS, whether you are a salary earned employee, a provisional tax payer or an expatriate employee.  

Payroll Services

• Process monthly payroll for local employees.
• Process monthly shadow calculations for expatriate employees (both inbound and outbound).
• Prepare apportionment calculations for expatriate employees where applicable and amend IRP5 certificates accordingly.
• Prepare and submit SARS EMP201’s for payment.
• Make payments to third parties (on request).
• Prepare IRP5 certificates and submit IRP5 certificates and EMP501 reconciliations bi-annually and annually.

Tax services

Employees’ tax

• Employees’ tax reviews to ensure that employees’ tax is being withheld in terms of legislation.
• Share scheme reviews to ensure that legislation is applied correctly.
• Prepare opinions regarding the Fourth and the Seventh Schedule to the Income Tax Act, No 58 of 1962 (as amended) (“the Act”).
• Review of SARS statement of accounts and assist with any issues on SARS accounts for employees’ tax, Skills Development Levies (“SDL”) and Unemployment Insurance Fund (“UIF”) payments.
• Assist with any issues on Employment Tax Incentive (“ETI”) claims.
• Assist with the completion of the employees’ tax portion of IT14SD’s.
• Assist with any SARS queries on IRP5 certificates and EMP501 reconciliation submissions.
• Assist with registrations and de-registrations for employees’ tax, SDL and UIF at SARS.
• Completion and submission of SARS EMP201 returns to SARS if no payroll is being processed.
• Prepare IRP5 certificates and submit IRP5 certificates and EMP501 reconciliations to SARS bi-annually and annually if no payroll is being processed.
• Prepare and submit any Voluntary Disclosures to SARS if any errors on the payroll is found when employees’ tax reviews are performed on the SARS Voluntary Disclosure Programme (“VDP”).

Income Tax

• Completion and submission of tax returns for individuals (ITR12’s) (local employees and expatriate employees).
• Prepare and submission of IRP6 returns – August and February for provisional tax payers.
• Completion and submission of tax returns for small to medium companies (ITR14’s).
• Prepare and submission of IRP6 returns for small to medium companies twice a year – provisional returns.
• Submission of additional information for review and audit once tax returns were submitted.
• Submission of objections and appeals against incorrect assessments raised by SARS.

Value Added Tax (“VAT”)

• Completion and submission of VAT EMP201 returns.
• Review of SARS statement of accounts and assist with any queries on accounts.
• Submit additional information for review and audit to SARS.

Bookkeeping and Accounting Services

• Capturing of monthly income and expenses for small to medium businesses.
• Provide Cash Flow Statements.
• Provide Income Statements at the end of the financial year.
• Provide Balance Sheets at the end of the financial year.
• All of the above exported in an user friendly format for the auditors at the end of the financial year.