Tax Administration Jamaica has advised that the deadline for business persons and companies to make fourth-quarter payments of estimated income tax for 2012 has been extended to Monday.
The payments were initially due today but the time was extended because the due date fell on the weekend. Payments made on Monday will not attract any interest or penalty.
Under the Income Tax Act, taxpayers are required to calculate their estimated income and the applicable tax for each year and pay the amount to the tax authority in four quarterly instalments.
However, this requirement does not apply to persons whose only source of income is from employment and whose taxes are paid under the Pay As You Earn (PAYE) system.
Business persons and companies are reminded that payments can be made online through the Jamaica Tax Portal at www.jamaicatax-online.gov.jm or at any of the 29 tax offices island wide.
And persons are reminded that they may make their estimated quarterly income-tax payments at the Portmore Tax Office which opens on Saturdays.
Tax Administration Jamaica is reminding persons that payments made after Monday may attract interest and penalty.