IRD focuses on refunds and underpaid tax

IRD focuses on refunds and underpaid tax

From 2019 Inland Revenue introduced a new system to automate the tax refund process.

In many cases this replaces the need to file individual tax returns. Because of this system update, the IRD may have been in contact with some of your employees regarding PAYE under-payment, or to provide a tax refund if too much has been paid.

There could be a difference between IRD’s PAYE figure and MYOB Exo Payroll’s deductions. Please click here to view an article explaining where differences might arise and to learn more about the tax refunds and under-paid tax.

(In a nutshell: IRD uses factual data for a complete financial year, while Exo Payroll calculations must use estimated earnings.)

If you have any questions, you may find the answers you need on the MYOB Exo Employer Services Support page, or contact us here.

 

Note: We previously ran an article about this update in June 2019.

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