Discover 'A Must-Watch for HR/Payroll Team,' a series that simplifies the complex world of taxes for HR and payroll professionals. Explore crucial topics such as perquisites, Form E, and the preparation of Form EA.
As an employer, one of your statutory responsibilities is to prepare Form EA to your employees. Watch this course to learn all you need to know about preparing Form EA!
Form E is a crucial document that must be filed by every employer at the end of each tax year. The due date for submission of Form E for Year of Assessment 2022 is 30 April 2023. The course will provide you with step-by-step instructions on how to fill out the form accurately and you will gain a comprehensive understanding of the process and requirements for submitting this important tax document. By the end of the course, you will have the knowledge and skills to confidently file Form E on time and accurately, avoiding any unnecessary legal or financial implications.
If you are employing employees to work for you, there are a number of statutory requirements that you need to comply with under the Income Tax Act, such as notifying the Inland Revenue Board of new employees, submitting Form E, deducting tax from emoluments...the list goes on! So as an employer, make sure to watch this course and get a clear understanding of your responsibilities under the Income Tax Act.
As an employer, have you ever thought about how to appreciate and reward the employee's hard work? Other than salaries and wages, there can be many more types of perquisites that employers can provide to their employees to attract and retain the best employees. Perquisite can be defined as benefits in cash or in kind that are convertible into money in the course of exercising the employment. Perquisites received by employees can be either taxable or exempted from tax. Explore on our video to learn how perquisites can be packaged into employee's remuneration and understand how these perquisites will affect the tax treatment on your employees' income tax.