With tax day one month away, Tax Administration Jamaica (TAJ) continues to assist hundreds of business persons to file their Income Tax Returns before the March 15 deadline. Through its Special Taxpayer Assistance Programme, business persons and self-employed individuals island wide have been making use of the free tax support sessions to file their final Income Tax Returns for 2016 as well as their Estimated Returns for 2017.
This year business persons and self-employed individuals can make use of these special tax support sessions, by taking along their income and expenditure statements, where TAJ personnel will help them to file their returns ahead of the usual March 15 Tax Office rush. A schedule of the STAP activities is available at www.jamaicatax.gov.jm for their convenience.
TAJ is also using the opportunity to guide persons at these tax support sessions, on the use of the revised forms which reflect recent legislative changes, as well as changes to the personal Income Tax Threshold.
Companies, Partnerships, Other Bodies, Self-employed Individuals, Persons with multiple employment and employed persons with other sources of income are advised to ensure that they use the correct form related to their type of business/activity, for the corresponding tax year to ensure that the Returns are filed accurately.
It is important for businesses to note that they are required to complete the Schedule 8, declaring their transactions with connected persons, during the last year. The schedule is to be filed along with the Income Tax Return due on March 15.
Asset Tax Returns for 2016 will also become due this tax season and companies are reminded that this is to be filed on or before March 15.
Information support is available in the March 15 Income Tax Hub at www.jamaicatax.gov.jm, where persons will be able access literature, updated forms and other information relating to Income Tax Filing.
For further information call the Tax Administration Customer Care Centre at 1-888-Tax-Help (1-888-829-4357) or visit the website www.jamaicatax.gov.jm.