S.L. 372.14 Art. 22Payers to submit annual reconciliation statement.

(1) Every payer shall, by the 15th February of every year, submit to the Commissioner a complete and correct Payer’s Annual

Reconciliation Statement relating respectively to the preceding year, together with the Payee Statement of Earnings required to be forwarded in respect of each payee in accordance with rule 21(1)(a): Provided that where a person ceases to carry out his function as a payer he shall, subject to the provisions of rule 28, submit such statement by the last working day of the month following that during which he has last made payments of emoluments.

(2) Such annual reconciliation statement shall be submitted on a form supplied or approved by the Commissioner and, apart from the details relating to the payer's identity and to the name and place of business, shall contain the following information:

(a) the number of payee statements of earnings issued by the payer in respect of the previous year;

(b) the gross amount of emoluments paid to the payees in respect of part-time employment qualifying under article 90A of the Income Tax Act;

(bb) the gross amount of emoluments paid to the payees that represents qualifying overtime income;

(c) the gross amount paid to the payees in respect of emoluments arising from any other source;

(d) the total amount of tax, if any, deducted in respect of the emoluments referred to under paragraph (b);

(dd) the total amount of tax deducted in respect of income referred to under paragraph (bb);

(e) the total amount of tax, if any, deducted in respect of emoluments referred to under paragraph (c); and

(f) the total amount of tax, if any, deducted in respect of the payees' outstanding tax liability as directed by the Commissioner under rule 10.