Deferral of PAYE will help businesses with cash flow, tax expert says

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Deferring payments of Pay-As-You-Earn taxes for three months will help companies pay employees and keep them going, says Sage's Yolandi Esterhuizen.

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Sage Africa and Middle East director of product compliance, Yolandi Esterhuizen, said regulations with details on how this deferral on PAYE taxes will work have not yet been published.

Esterhuizen said employers would have to pay 65% of that over to Sars and the remaining 35% they would not pay over. “But then after let's say, a three-month period, [the 35%] will have to be paid, say in equal instalments until it is paid off.”

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