UPDATED: PAYE workers to get refund as new tax threshold takes effect
Some Pay-As-You-Earn (PAYE) workers are to receive a refund from their employers.
This as the new income tax threshold took effect last Friday.
Director of communications at Tax Administration Jamaica (TAJ) Merris Haughton says the refunds are for PAYE workers whose salary now exceed the previous income tax threshold of J$592,800, but earn up to J$796,536.
Haughton says employers can choose to make the payment in monthly instalments up to December this year or through a one-time payment.
She also advised employers to make the necessary adjustment during the course of the year.
Haughton was speaking last Friday at a Jamaica Information Service ‘Think Tank’ where she explained the TAJ’s implementation of the new income tax threshold of J$1 million.
EDITOR'S NOTE: An earlier version of this article incorrectly stated that the new income tax threshold was $1.2 million.