May 13, 2014

How Does The New Employment Tax Incentive (ETI) Work?

What is ETI? ETI is a tax concession made to encourage employers to hire young people with no work experience. The employer may claim the ETI from the South African Revenue Service (SARS) by reducing the amount to be paid over in terms of PAYE by the total ETI calculated  on the basis of qualifying employees. This tax concession came into effect on 1 January 2014. Who qualifies for ETI? Employers who are registered for PAYE purposes and whose tax affairs are in order, are permitted to claim ETI. If an employer’s tax affairs are not in order ETI may still […]
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