 | Published Date: 29 Jan 2009
FAQ No: 0033
What I should submit to the Inland Revenue as part of the end of year process and how is this done?
If one employs more than 30 employees one needs to submit employee annual tax returns via electronic lodgement by going to Main Menu > Reports > Electronic lodgement as per screen shot below. This option generates 2 text files containing details of earnings and tax and NI contributions for all employees. These files can either be submitted to IRD electronically ( You need to register with IRD to get a login via ird.gov.mt ) or else they can be submitted on a diskette. The process also generates a report listing all the details contained in the files.
Along with these files one must also submit an FS7 annual return . When printing this report one is asked to enter receipt numbers and dates relating to the monthly FS5 tax returns.
One must also supply an annual statement of earnings (FS3) to each employee.
If one employs less than 30 employees one has the option to supply IRD with printed copies of the FS3's instead of an electronic lodgement. If choosing this option one must still submit an FS7 report.
These returns may be generated even from the previous year after running the end of year procedures.
N.B. The totals in the electronic lodgement report or the totals of FS3's printed must tally with the figures in the FS7 report.
Category: |
End of Year |
| | |