IRD requirements for businesses paying PAYE half-monthly
ANSWER ID:2450
If your business pays more than $500,000 of PAYE and ESCT annually, Inland Revenue considers you a large employer. This means you must pay your PAYE half-monthly and send your Employer Monthly Schedule IR348 (EMS) electronically every month.
The basic process for large employers is:
- pay PAYE to Inland Revenue on the 15th and end of month, and
- electronically file the EMS using ir-File at the end of every month.
Employers with gross annual PAYE of $100,000 or more must still file their EMS electronically using ir-File.
For more information about ir-Filing visit the Inland Revenue website.