The MBT, which was implemented in April 2014, requires persons operating a business to pay a Minimum Business Tax of $60,000 for the year due in two installments on June 15 and September 15. In the case of individuals, the MBT applies to individuals, including partners, carrying out a trade, vocation or profession, whose annual gross revenue is equal to or over $3M. This means that individuals operating a small business and whose gross income is below $3M are not required to pay this tax. Registered charities are also exempt from paying the Minimum Business Tax.

The public is further reminded that where an individual or a company operates several branches of a business, the MBT is only to be paid on the main TRN and not on multiple TRN branch numbers related to the business.

To accommodate the smooth payment of the MBT and other taxes due, measures have been put in place at all tax offices to deal with the usual month-end crowds. TAJ representatives are also be available to respond to queries on the new MBT, or any other payment due.

For further information persons may call the Tax Administration Jamaica Customer Care Centre at 1-888-Tax-Help (1-888-829-4357) or visit the website www.jamaicatax.gov.jm