Upward tax collections trend continued in December
Tax Administration Jamaica (TAJ) said preliminary figures indicate that for December 2016 net collections were $26.6 billion or 27.3 per cent above the $20.9 billion target.
The year-to-date net collections now stand at $191.9 billion, $12.6 billion or 7 per cent above the $179.2 billion projection, TAJ said in a release.
The performance continued the positive trend set over the previous two quarters and during fiscal year 2015/2016, the agency said.
TAJ has attributed the positive outcome to the continuation of focused compliance strategies, which includes closer monitoring of arrears which was facilitated through the implementation of the Revenue Administration Information System (RAiS), mandating some categories of taxpayers to file online, and the introduction of a system generated penalty of $5,000 per month per return for late filing.
In addition, the service and education push continued as taxpayer education teams, technical specialists, client relationship managers and customer care agents interfaced with taxpayers to inform them of their rights and obligations, as well as provide information and assistance.
Seminars, workshops, sensitisation sessions and speaking engagements were some of the strategies TAJ employed.