Social Zone Social Zone

 

Contact Us Contact Us

Customer Care Centre
Toll Free: 1-888-TAX-HELP (local)
Toll Free: 1-888-829-4357
Toll Free: 1-888-GO-JATAX (USA)
Telephone: (876)-902-9463
FAX: (876)-902-9494
Email: taxhelp@taj.gov.jm
Customer Care Centre
Toll Free: 1-888-TAX-HELP (local)
Toll Free: 1-888-829-4357
Toll Free: 1-888-GO-JATAX (USA)
Telephone: (876)-902-9463
FAX: (876)-902-9494
Email: taxhelp@taj.gov.jm

News Releases News Releases

Transfer Pricing Obligations for Year of Assessment 2016

Taxpayers are subject to the application of the transfer pricing regime if they have ‘connected persons’ (in accordance with the definitions of Section 2(2) of the Income Tax Act) in Jamaica or abroad, and have carried out transactions with those connected persons or with business entities or persons resident in low/no tax jurisdictions during year of assessment 2016.

All Taxpayers must account for and pay the associated taxes (if any) in respect of all transactions carried out with ‘connected persons’ or with business entities or persons’ resident in a low/no tax jurisdiction during year of assessment 2016. The obligations are as follows:

a.) completing of Schedule 8 (Declaration of Connected Person Transactions) in relation to all transactions with ‘connected persons’ and with business entities or persons’ resident in low/ no tax jurisdictions and submitting it by 15 March 2017. Schedule 8 is a part of the annual income tax return and
b.) preparing and maintaining transfer pricing documentation in accordance with the Income Tax (Transfer Pricing Documentation) Regulations, 2015 for all taxpayers with five hundred million dollars ($500,000,000) or more as gross annual revenue in the previous year of assessment.

Transfer pricing documentation shall be provided to the Commissioner General within thirty working days of the written request being duly issued by the Commissioner General.

Taxpayers are being reminded that penalties are applicable for offences related to year of assessment 2016 including non-filing and non-compliance. It is recommend that taxpayers prepare transfer pricing documentation in the same period that the transactions are executed, and file Schedule 8 with the Income Tax Return prior to the deadlines.

TAJ has launched a new user-friendly Transfer Pricing Hub with useful information, legislation, articles and forms that will guide you in the process of complying with transfer pricing obligations, seeking to minimize the risk of non-compliance during the process. To access the Transfer Pricing Hub, visit www.jamaicatax.gov.jm and click on the option "Transfer Pricing" under the “Information about” section.

For further information persons may contact the Customer Care Centre at 1-888-Tax-Help (1-888-829-4357) toll-free or contact a Client Relationship Manager, Large Taxpayer Office.

Traffic Ticket Amnesty

GART Rates

 

Tax Tips Tax Tips

Tax Reminder: Sign up for TAX REM - to get text reminders about Motor Vehicle Registration and Certificate of Fitness expiry dates.

Motorists: You may renew your Driver’s Licence up to 30 days before your birthday.

Saturday Opening: The Portmore Tax Office opens on Saturdays 10:00am to 4:00pm.

Avoid the rush: To avoid the rush, DON’T wait until the busy month end to make tax payments or fees.

Electronic Drop Boxes: Cheque payments may be made using electronic drop boxes located at main tax offices.

Save Time! Why wait inline? File and pay GCT online.



TAJ Poll TAJ Poll

How was your online paying/filing experience?