|Every employer who
employs persons earning more than $481 per week or $2 083 per month is
required to register as an employer with the Commissioner of Inland Revenue
for PAYE purposes. The employer is then issued with all the required forms
used in the PAYE system.
Form A47:134 is used for registering a new employer. This form requires
detailed information of the employer and his business concern. It is also
important for all Sole-Traders and Partners to provide their National
Registration and National Insurance Numbers on their application forms.
|Form A47:135 records
the PAYE Account Number assigned to the employer after successful completion
of registration. It must be retained by the employer as evidence of his
registration as an employer with the Department.
|. The Employee
Declaration Form, A47: 001. All employees
must complete this form at the commencement of employment. It allows the
employer to determine the particular Tax Code under which the employee
will be taxed. In respect of income year 2009 and subsequent years,
each employed person starts with a basic allowance of $25, 000 and this
may increase depending on the amount of other allowances that person is
entitled to claim.
|. A person
claiming $25,000 would have a tax code of 250W or 250M depending on whether
that person is being paid weekly or monthly. The code enables the employer
to deduct the correct amount of tax from each employee.
form issued to the employer is the PAYE Tax Deduction Remittance Form,
A47:004 (Available on-line). After taxes have been deducted from all persons
liable to be taxed, the employer is obligated to pay all sums over to the Commissioner
on or before the 15th of the month following the month in which it was
must ensure that the business PAYE account number is stated on the remittance
form (A47:004). Payments may be posted, hand delivered or placed in the
24 hr. mailbox on the north side of the Ground Floor, Treasury Building.
|. The Tax Table
. This book contains a set of instructions for the employer.
These instructions, if closely followed, will greatly assist the user
in deducting the correct amount of tax. They will also advise the employer
what amounts are taxable, what amount must be deducted for a given period
from the employee's remuneration and how to account for the amounts so
the main purpose of the Tax Tables is to guide the employer as to how
much tax is to be deducted from each employee's remuneration under the
Pay As You Earn (PAYE) tax system.