Wed | Nov 25, 2020

Third-quarter tax payments due for businesses

Published:Sunday | September 13, 2020 | 11:47 AMJIS

Businesses are to file monthly statutory deductions and quarterly income tax/statutory payments tomorrow and Tuesday.

Tax Administration Jamaica says the deductions that are to be filed are: statutory deductions (S01) for August; estimated corporate income tax (third quarter) and self-employed statutory payments for the third quarter of the financial year.

The Jamaica Information Service (JIS) says business persons are being encouraged to use the TAJ’s online portal, www.jamaicatax.gov.jm, which accommodates filing and payment of monthly payroll statutory deductions and quarterly payments now due.

Persons or businesses with Bank of Nova Scotia (BNS) accounts may also opt to use the Automated Direct Deposit facility available on their Revenue Administration Information System (RAIS) eService account via the TAJ website, using the Automated Clearing House (ACH). This option allows users to make payments from their bank account directly to TAJ’s bank account up to a maximum of $99,999,999.

The JIS notes that the TAJ also recently expanded its payment option to include NCB Bill Pay, known as PaySmart. This means National Commercial Bank (NCB) personal/retail customers are now able to add Tax Administration Jamaica as a payee through their NCB online payment platform. This is an additional payment option for several business-related taxes and fees to include: monthly payroll deductions, income tax and PAYE payments.

In addition to the various online options now available, persons are being reminded that tax payments may still be made at any of its 28 offices.

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