Employers are asked to take due care when submitting the monthly Remittance Form [R5A] as any incomplete or incorrect information will attract a penalty fee of $100 per page as of 1st July 2018.
Further, employers and self-employed persons are reminded that remittance payments for August 2018 are due no later than 14th September 2018 to avoid the 10% surcharge.
N.B.: For 2018, contribution rates are:
Private Sector - 12½%
- Employees - 5¼%
- Employers - 7¼%
Public Sector - 11½%
- Employees - 4¼%
- Employees - 7¼%
Self-Employed persons remain at 10%.
Remittance payments can be made at the Drop Box located at the Royal Palm Branch; Monday to Friday: 8:00 am - 3:30 pm.