The Seychelles Revenue Commission (SRC) has since last Friday presented its revised payroll template the organization intends to roll out for businesses with employed persons in the Seychelles, to several local payroll providers.
The updated template expected to entail new features such as gender, job title and exempt benefits will be combined with the Seychelles Pension Fund (SPF) form which captures information related to the pension contribution of an employee.
The proposed template created as part of SRC’s modernization strategy will streamline internal processes and facilitate the sharing of information from businesses to both SRC and SPF. Once implemented, businesses will be required to only load the completed payroll template only once unto the SRC’s online portal through the Tax Management System which will automatically feed information to both SPF and SRC.
As such, for clarity compared to the current practice where business have to complete and submit two separate templates to both SRC and SPF respectively, once the revised payroll format has been implemented, businesses will only need to submit one payroll template monthly unto the upcoming TMS platform of which the data captured on the template will incorporate information for both SRC and SPF which the TMS system will share to both organizations simultaneously.
Apart from viewing the revised template, the attendees at the meeting also had the chance to share their feedback and suggestions about what is doable on their end.
The meeting held at the SRC headquarters in Maison Colet on 8 July, saw the participation of members from the VCS Group, Space95, the Department of Information Communications Technology (DICT), including staff members of the Treasury Department and the Seychelles Pension Fund.
To build awareness about the new added features of the payroll template, in the upcoming months SRC in collaboration with SPF will roll out a series of marketing initiatives targeting all those involved in the collection and submission of the payroll for further guidance.