Compliance News
Eswatini | New Monthly PAYE Schedule for Employers
The Eswatini Revenue Service (ERS) has introduced a new method for submitting monthly PAYE returns. This new Monthly PAYE Schedule aims to simplify the process and improve the accuracy of annual reconciliations. New Requirements Effective from 1 July ...
Botswana - Changes to the ITW7A online submission file and the annual PAYE deadline
The Income Tax (Amendment) Act, 2024 was gazetted and became effective on 15 January 2024. This Amendment increases the tax-exempt portion of certain lump sums payable to employees, as outlined in sections 32(7), 32(10), 32(11), 32(12), 32(14), and ...
Kenya – Court of Appeal Grants Stay on High Court Judgment, SHIF to Proceed on 1st October 2024
The Court of Appeal has issued a stay on the High Court's judgment, allowing the planned rollout of the Social Health Insurance Fund (SHIF) to move forward as scheduled on 1st October 2024. Further details and updates will follow as more information ...
Mauritius | Wage Relativity Adjustment Effective 1 July 2024
On 13 September 2024, the Government of Mauritius issued the Remuneration Regulations (Workers (Remuneration) (Amendment) Regulations 2024). These regulations require employers to pay employees the wage relativity adjustment as outlined in the ...
South Africa | Decrease in the Official Rate of Interest Effective October 2024
Where an employee incurs debt to their employer, and either no interest is payable or the interest rate is lower than the official rate of interest, the difference between the amount calculated at the official rate and the amount calculated at the ...
Namibia | Income Tax Amendment Act, 2024 Promulgated
The Income Tax Amendment Act, 2024 was approved by Parliament and published in Government Gazette 8442 on 16 September 2024. The updated tax rates, detailed in paragraph 1 of Schedule 4 to the Income Tax Act, 1981, will be effective starting 1 March ...
South Africa - SARS e@syFile Software Update for 2024/2025 Interim EMP501 Submissions
SARS has released the new e@syFile software for the 2024/2025 Interim EMP501 Submissions, which are open from 16 September to 31 October 2024. Transition to the New Rebranded e@syFile Platform SARS is currently transitioning to a new, rebranded ...
South Africa | Important UIF uFiling Service Downtime Notice
The UIF has announced that the uFiling platform is currently out of service until further notice. As a result, employers will not be able to submit UIF declarations via uFiling, and individuals will be unable to claim UIF benefits online. In the ...
Zimbabwe | Finance Bill 2024
The Zimbabwe Finance Bill, 2024, introduces the following key changes: Amendments to the Reserve Bank Act to recognize the new local currency, Zimbabwe Gold (ZWG), as legal tender, which was introduced on April 5, 2024, through the Presidential ...
Eswatini | Income Tax Amendment Act 2023 Follow-up on changes Effective 1 July 2024
The Kingdom of Eswatini has introduced several changes through the Income Tax (Amendment) Act 2023. Key points affecting payroll for the 2024/2025 tax year: Increased Tax Deduction for Approved Pension Funds Contributions: The allowable tax deduction ...
South Africa - SARS Two-Pot Retirement System Webinar
SARS has invited taxpayers to a webinar on the Two-Pot Retirement System. The webinar is designed to inform taxpayers about how the retirement reform is being implemented, the details of the savings withdrawal benefit, and the tax effects associated ...
Kenya – Supreme Court stays Court of Appeal's decision that Finance Act 2023 is unconstitutional
The Supreme Court of Kenya has stayed the Court of Appeal's decision which declared the Finance Act 2023 unconstitutional. The consolidated appeals are scheduled for hearing on the 10th and 11th of September 2024. Therefore, the provisions in the ...
Kenya - Finance Act 2023 declared unconstitutional - Update
The Supreme Court of Kenya has announced that it will issue a ruling on the 20th of August 2024, regarding whether or not to stay its decision to declare the Finance Act 2023 unconstitutional. If a stay is granted, the ruling will be suspended until ...
Nigeria: National Minimum Wage 2024 Update
The President of Nigeria has approved and signed the National Minimum Wage (Amendment) Act 2024. However, there are ongoing discussions regarding: The effective date for the new minimum wage. Challenges related to financial constraints and the need ...
Nigeria: National Minimum Wage (Amendment) Act, 2024
On 29 July 2024, President Bola Tinubu, signed the National Minimum Wage (Amendment) Bill, 2024 into law. This amendment introduces the following changes: The national minimum wage has been raised from NGN 30,000 to NGN 70,000. The frequency of ...
Zimbabwe: 2024 mid-term budget review
The 2024 Zimbabwe mid-term budget review was presented on July 25, 2024. The following key proposed tax measures to the 2024 national budget statement and corresponding Draft Finance Bill are listed below : Amendments to the Reserve Bank Act to ...
Botswana: Annual PAYE and Other Withholding Tax Returns Filing Due Date Extended to September 30, 2024
The Botswana Unified Revenue Service (BURS) has issued a public notice announcing the extension of the due date for filing annual "pay as you earn" (PAYE) and "other withholding tax" (OWHT) returns to September 30, 2024. Please click here to view the ...
Kenya – Finance Act 2023 declared unconstitutional
On the 31st of July 2024, the Kenya Court of Appeal declared the entire Finance Act 2023 unconstitutional. The Finance Act 2023 introduced the Post-Retirement Medical Fund Relief as well two additional tax bands for high income earners. We are ...
Mauritius- Finance Act 2024 Promulgated
On 26th of July 2024, the President of the Republic of Mauritius, Prithvirajsing Roopun, signed the Finance Act 2024 into law, bringing the following changes to the Income Tax Act affecting payroll into effect: Exempt Income • The exempt threshold ...
Kenya – Fringe Benefit Tax and Low Interest Benefit 2024
The Commissioner for Domestic Taxes has issued a new Public Notice regarding Fringe Benefit Tax and the Low Interest Benefit. Fringe Benefit Tax For the purposes of Section 12B of the Income Tax Act, the Market Interest Rate is 16%. This rate shall ...
Mauritius - National Savings Fund (NSF) Limits Increase
Effective 1 July 2024, the Mauritius Revenue Authority (MRA) has revised the minimum and maximum basic wage or salary amounts used to calculate contributions to the National Savings Fund (NSF). The new limits are as follows: Pay Period Minimum Wage ...
SARS Launches Self-Service WhatsApp Channel
From July 8, 2024, taxpayers can now use WhatsApp to interact with SARS for tax advice and personal income tax queries. To start, simply text “Hi” or “Hello” to 0800 11 7277. Services available include requesting your Tax Reference Number, Statement ...
Tunisia - SMIG increase (effective January 2025)
In Tunisia the Salaire Minimum Interprofessionnel Garanti (SMIG) refers to the Guaranteed Interprofessional Minimum Wage in the non-agricultural sectors governed by the Labour Code. Decree no 2024-0419 of 9 July 2024 increases the SMIG values as ...
Tunisia - SMIG increase (effective May 2024)
In Tunisia the Salaire Minimum Interprofessionnel Garanti (SMIG) refers to the Guaranteed Interprofessional Minimum Wage in the non-agricultural sectors governed by the Labour Code. Decree no 2024-0419 of 9 July 2024 increased the SMIG values as ...
Zimbabwe: Introduction of the Zimbabwe Gold (ZiG) currency code (ZWG)
The Zimbabwe Reserve Bank Governor released a press statement on 1 July 2024. The key points raised were the following: The International Standard Organization (ISO) 4217 Committee on Currency has approved a new currency code, ZWG, for the Zimbabwe ...
Tanzania - Finance Act 2024 Effective 1 July 2024
On 28 June 2024, The National Assembly of the United Republic of Tanzania passed the Finance Bill, 2024. The Bill was then assented to by the President, effectively making it the Finance Act, of 2024. Published on 30 June 2024, the Finance Act 2024 ...
Kenya – SHIF delayed until October 2024, NHIF to continue until then
The Government has postponed the planned move to the new Social Health Insurance Fund (SHIF) to October 1st 2024, amid ongoing challenges with the new digital platform and supporting legislation. Kenya’s will continue to contribute to the National ...
Kenya – Finance Bill 2024 Withdrawn
On June 26, 2024, Kenya’s President Ruto announced his refusal to assent to the Finance Bill 2024, leading to its withdrawal due to public pressure. The bill will now be sent back to the National Assembly with a recommendation for the deletion of all ...
Tanzania Budget Speech - Proposed changes for the 2024/2025 tax year
The Minister of Finance delivered the Budget Speech for the 2024/2025 tax year to the National Assembly on 13 June 2024. The budget marks a significant step towards implementing priorities identified in the Third Five-Year National Development Plan ...
Zimbabwe - POBS Insurable Earnings Update - June 2024
The National Social Security Authority (NSSA) announced an update for all employers and stakeholders regarding the maximum insurable earnings per employee. Effective June 1, 2024, the new maximum amount of monthly earnings subject to contributions ...
Mauritius: Budget Highlights 2024/2025
On June 7, 2024, Dr. the Honourable Renganaden Padayachy, the Minister of Finance, Economic Planning, and Development, presented the budget for the 2024/2025 tax year. The following payroll-related tax measures were announced: Exempt Income • The ...
Kenya - Statute Law (Miscellaneous Amendments) Act, 2024
The Statute Law (Miscellaneous Amendments) Act 2024 was published on April 26, 2024. This Act introduces various statutory changes, including an important update to the Industrial Training Act, Cap. 237 (NITA). The deadline for remitting ...
South Africa - Personal Income Tax Return Filing Season 2023/2024
The SARS Commissioner published Government Gazette 50741 on 31 May 2024, prescribing: Deadlines for filing a Personal Income Tax return Criteria for individuals required and not required to file a Personal Income Tax return for the 2024 year of ...
Eswatini – Income Tax Amendment Act 2023 Effective 1 July 2024
The Kingdom of Eswatini has introduced several changes to tax administration through the Income Tax (Amendment) Act 2023 which was gazetted on 20 October 2023. Key points regarding payroll for the 2024/2025 tax year: The individual income tax rates ...
Kenya – The Finance Bill, 2024
The Finance Bill, 2024 was published and gazetted on the 9th of May 2024. Below is a summary of the key proposed amendments which will affect payroll, with a proposed effective date of 1 July 2024. · The exempt amount of subsistence, travelling, ...
Malawi - New PAYE Rates Effective April 2024
The Taxation (Amendment) Act, No. 12 of 2024 has been published. The Eleventh Schedule has been updated with the following amended annual rates for Income Tax on Employment effective April 2024: First MK1,800,000 will be taxed at 0% Next MK4,200,000 ...
South Africa - National Health Insurance Bill Enacted
On 15 May 2024, President Cyril Ramaphosa signed the National Health Insurance (NHI) Bill into law, setting in motion the Government's plan for universal health coverage. At this stage, the National Health Insurance Act has not been published yet; ...
Botswana - Budget Speech 2024/2025
The Minister of Finance of Botswana delivered the Budget Speech for the 2024/2025 tax year, no amendments to the Income tax tables or allowable deductions for the 2024/2025 tax period were disclosed.
Cameroon 2024 Tax Year Amendments Update
As of now, there have been no further developments regarding the suspension of the payroll amendments announced in the 2024 Finance Law. Therefore, the regulations outlined in the 2023 General Tax Code remain in effect. We are closely monitoring any ...
Zimbabwe: Statutory Instrument 22 of 2024
The provisions of Statutory Instrument 22 of 2024 states: Section 41 of the National Social Security Authority (Accident Prevention and Workers’ Compensation Scheme) Notice, 1990, published in Statutory Instrument 68 of 1990, is amended by the repeal ...
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