{"id":33517,"date":"2023-08-09T16:51:51","date_gmt":"2023-08-09T16:51:51","guid":{"rendered":"https:\/\/www.africa-press.net\/seychelles\/?p=33517"},"modified":"2023-08-09T17:09:49","modified_gmt":"2023-08-09T17:09:49","slug":"src-introduces-its-forthcoming-advanced-payroll-template-to-businesses","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/seychelles\/all-news\/src-introduces-its-forthcoming-advanced-payroll-template-to-businesses","title":{"rendered":"SRC introduces its forthcoming advanced payroll template to businesses"},"content":{"rendered":"

Africa-Press – Seychelles. <\/strong><\/span>The Seychelles Revenue Commission (SRC) hosted a workshop for businesses yesterday to unveil its forthcoming advanced payroll template and address key tax obligations related to Income and Non-Monetary Tax, alongside the Withholding Tax.<\/b><\/p>\n

The workshop was held at the Seychelles Trading Company conference room.<\/p>\n

According to Sheryl Barra, director for Taxpayers Education and Service Delivery at SRC, specific tax types will have designated forms.<\/p>\n

She exemplified this by noting that \u201cresidential rent payment, for instance, necessitates its own form for manual payment submission if spread across different months. However, online payments will seamlessly embed all required forms, simplifying the tax calculation process and facilitating the payment\u201d.<\/p>\n

Ms Barra elucidated, \u201cthis transformation stems from our commitment to enhance taxpayer services, streamlining processes, and facilitating effortless payments as we adapt to changing needs\u201d.<\/p>\n

Upon the launch of the online Tax Management System, taxpayers can conveniently manage their obligations from home, strengthening SRC’s engagement with taxpayers.<\/p>\n

Ms Barra emphasised, \u201cwe anticipate the digital shift to encompass all our services, fostering greater accessibility\u201d.<\/p>\n

The director for Compliance and Policy at SRC, Rosaline Lepathy, explained that the revised online forms were intended to familiarise taxpayers with content changes.<\/p>\n

She clarified, \u201cmodifications will not impact the actual calculations. New fields have been added to capture data such as gender and occupation, constituting the first phase of our digitalisation initiative this year\u201d.<\/p>\n

Ms Lepathy outlined the second phase, beginning in January 2024, involving collaboration with pension funds.<\/p>\n

She detailed, \u201can agreement has been reached to facilitate dual agency payments through the SRC portal, equipped to handle both payroll and pension transactions simultaneously\u201d.<\/p>\n

During the workshop, discussions also covered the forthcoming changes to forms. Ms Lepathy highlighted that the existing Business Activity Statement, accompanying payments, will eventually be replaced.<\/p>\n

She elaborated, \u201cA new Tourism Marketing Tax return will be introduced, alongside a fresh return for long-term accommodation providers. This new return mandates monthly declaration of income and corresponding tax payments.\u201d<\/p>\n

These transformations are integral to SRC’s ongoing development of the Tax Management System.<\/p>\n

Ms Lepathy highlighted, \u201cthrough an extensive reengineering process, with guidance from an overseas business analyst, we have refined our processes to align with international best practices\u201d.<\/p>\n

The new system will feature an accessible portal allowing taxpayers to meet obligations, submit returns, and maintain constant communication conveniently.<\/p>\n

Speaking about tax obligations, Gayathri Andre, director of Taxpayers Services at SRC, elaborated on income, non-monetary benefits tax, and withholding tax.<\/p>\n

She clarified, \u201ctwo aspects define income and non-monetary benefits tax: salary and employee benefits. Changes in the law have revised non-monetary benefit tax, introducing exemptions but mandating a 15% employer contribution\u201d.<\/p>\n

Ms Andre detailed the differing tax rates, stating, \u201ccitizens within the first bracket, at R8,555.50, enjoy a 0% tax rate. Non-citizens within the same bracket, however, do not qualify\u201d.<\/p>\n

She highlighted that citizens from partner countries under the Double Taxation Agreement enjoy the 0% rate.<\/p>\n

Regarding withholding tax, mainly applicable to non-residents, Ms Andre clarified, \u201cnon-residents staying less than 90 days must remit tax. Withholding tax, set at 15%, applies to services like consultancy and management\u201d.<\/p>\n

Rates can differ for non-resident entities based on agreements. Entertainers are subject to a 5% withholding tax.<\/p>\n

Ms Andre emphasised that the recipient is responsible for withholding and remittance.<\/p>\n

For More News And Analysis About Seychelles<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Seychelles. The Seychelles Revenue Commission (SRC) hosted a workshop for businesses yesterday to unveil its forthcoming advanced payroll template and address key tax obligations related to Income and Non-Monetary Tax, alongside the Withholding Tax. The workshop was held at the Seychelles Trading Company conference room. According to Sheryl Barra, director for Taxpayers Education […]<\/p>\n","protected":false},"author":84,"featured_media":33516,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[234,268,233],"class_list":["post-33517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-seychelles","tag-seychelles"],"yoast_head":"\nSRC introduces its forthcoming advanced payroll template to businesses - Seychelles<\/title>\n<meta name=\"description\" content=\"The Seychelles Revenue Commission (SRC) hosted a workshop for businesses yesterday to unveil its forthcoming advanced ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/seychelles\/all-news\/src-introduces-its-forthcoming-advanced-payroll-template-to-businesses\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SRC introduces its forthcoming advanced payroll template to businesses\" \/>\n<meta property=\"og:description\" content=\"The Seychelles Revenue Commission (SRC) hosted a workshop for businesses yesterday to unveil its forthcoming advanced ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/seychelles\/all-news\/src-introduces-its-forthcoming-advanced-payroll-template-to-businesses\" \/>\n<meta property=\"og:site_name\" content=\"Seychelles\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-09T16:51:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-09T17:09:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/seychelles\/sites\/30\/2023\/08\/sm_1691579695.920667.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/seychelles\/all-news\/src-introduces-its-forthcoming-advanced-payroll-template-to-businesses#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/seychelles\/all-news\/src-introduces-its-forthcoming-advanced-payroll-template-to-businesses\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/seychelles\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"SRC introduces its forthcoming advanced payroll template to businesses\",\"datePublished\":\"2023-08-09T16:51:51+00:00\",\"dateModified\":\"2023-08-09T17:09:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/seychelles\/all-news\/src-introduces-its-forthcoming-advanced-payroll-template-to-businesses\"},\"wordCount\":554,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/seychelles\/all-news\/src-introduces-its-forthcoming-advanced-payroll-template-to-businesses#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/seychelles\/sites\/30\/2023\/08\/sm_1691579695.920667.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Seychelles\",\"Seychelles\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/seychelles\/all-news\/src-introduces-its-forthcoming-advanced-payroll-template-to-businesses#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/seychelles\/all-news\/src-introduces-its-forthcoming-advanced-payroll-template-to-businesses\",\"url\":\"https:\/\/www.africa-press.net\/seychelles\/all-news\/src-introduces-its-forthcoming-advanced-payroll-template-to-businesses\",\"name\":\"SRC introduces its forthcoming advanced payroll template to businesses - 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