Wed | Sep 20, 2017

TAJ reminds of income tax returns deadline

Published:Tuesday | March 8, 2016 | 3:59 AM

Tax Administration Jamaica (TAJ) says it’s increasing its assistance to hundreds of small businesses and self-employed persons as the March 15 deadline for filing Annual Income Tax Returns for the year 2015.

The TAJ says the assistance is being offered through the Special Taxpayer Assistance Programme.

Taxpayers have just one more week within which to visit any of the island wide sessions, which focus on registering and assisting persons to file their Income Tax Returns online using TAJ’s new Revenue Administration Information System.

Persons are reminded to take their business related documents to the sessions.

These documents include Taxpayer Registration Number (TRN), bank statements, purchase invoices, expense receipts, sales records, utility bills and any other records that can be used to verify their income and expenses.  

All taxpayers, including self-employed individuals, partners, companies, other bodies and employed persons with additional sources of income, are urged not to wait until the last day to file and pay their returns.

TAJ wishes is reminding that failure to file returns on or before the Income Tax deadline will result in compliance action being taken.

A $5,000 monthly penalty may be charged for each month the return is late.

Interest may also be applied to outstanding amounts.