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The tax is paid by the employer to SARS on a monthly basis as part of the monthly employer declaration (EMP201). The employer deducts or withholds the amount of tax from its employees. The employer is able to claim a portion of this tax back in compensation for approved training undertaken by the employees that was paid for by the employer.
Per diem (Latin for "per day" or "for each day") or daily allowance is a specific amount of money that an organization gives an individual, typically an employee, per day to cover living expenses when travelling on the employer's business. A per diem payment can cover part or all of the expenses incurred. For example, it may include an ...
The amount of the allowance depends on what is claimed for. In some cases, the rates are different in the year a business entity made the purchase from those in subsequent years. A business operator cannot claim capital allowances for things bought or sold: these are claimed as business expenses.
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Not only have travel insurance claims increased, but so have the rates of denial. This year, travel insurance claim denials are up 33% over last year, according to Squaremouth data.
Travel and subsistence expenses describe the cost of spending on business travel, meals, hotels, sundry items such as laundry (though usually only on long trips) and similar ad hoc expenditures. [1] These reimbursements often have tax and related implications, and vary depending on the country of the business.
In addition to base salary, allowances may be paid to an employee for specific purposes other than performing the job. These can include allowances for transportation, housing, meals, cost of living, seniority, or as payments in lieu of medical or pension benefits.
Effectively, SARS manages, administers, and implements the tax regime as designed by the Minister and National Treasury. SARS was established in 1997 by a merger of the customs and inland revenue departments, at the recommendation of the Katz Commission, which had been instituted to review the South African tax system for the post-apartheid era.