Tue Feb 07 15:00:00 GMT-05:00 2017
Tax Administration Jamaica (TAJ) through its Intelligence, Investigation and Enforcement Unit (IIEU) recently prosecuted St. Andrew businessman Ainsley Lowe, Director of Image One Company Limited under Section 17 of the amended Revenue Administration Act (RAA) for failure to produce books, records and documents as requested.
Mr. Lowe was found guilty in the Sutton Street Tax Court on January 11, 2017 and fined $200,000.00 (Two Hundred Thousand Dollars) or ten days imprisonment.
The Tax Authority is reminding business persons that it is an offence not to keep proper books and records relating to their business activities. In addition, failure to produce such books, records and documents, within the time specified when requested by the Commissioner General, Tax Administration Jamaica for an audit/investigation is also a criminal offence.
This will result in prosecution under Section 17I or 17 1A of the amended RAA which carries a penalty of up to $2,000,000.00 (Two Million Dollars) or imprisonment or both.
For further information on the tax law and any other tax related matter, contact the TAJ Customer Care Centre at 1-888-TAX-HELP (1-888-829-4357) or visit www.jamaica.gov.jm.