House OKs income tax relief for companies that helped workers after Melissa
Published:Wednesday | February 11, 2026 | 12:13 AMKaren Madden/Gleaner Writer
As the country continues to recover from the devastation caused by Hurricane Melissa last October, the Government is moving to provide tax relief to companies that offered financial assistance to employees affected by the Category 5 storm.
Finance Minister Fayval Williams, on Tuesday, piloted amendments to the Income Tax Act and the Asset Tax (Specified Bodies) Act, both of which were passed in the House of Representatives. The measures are intended to ease the burden on employers who provided relief to staff beyond regular salaries and allowances as they themselves recover from the hurricane’s impact.
Addressing the House, Williams explained that the amendments introduce a limited adjustment to the corporate income tax filing and payment deadline, shifting it from March 15 to April 15, beginning with the 2025 year of assessment. For administrative consistency, the Asset Tax (Specified Bodies) Amendment aligns the asset tax filing and payment date with the revised corporate income tax timeline, recognising that both assessments are based on the same financial statements.
DELIBERATE CHANGE
“It is important to emphasise that this change is deliberately narrow in scope. It applies only to corporate income tax and asset tax and does not affect pay as you earn (PAYE) individual income tax,” the finance minister told the House.
While the Opposition reiterated its long-standing call for the asset tax to be phased out, its parliamentary spokesman on finance, Julian Robinson, expressed support for the amendments.
He also sought clarification on whether the relief extended beyond income tax to include statutory contributions such as NIS, NHT, and other employer-paid deductions. Robinson further stated that the Opposition had no objection to moving the filing deadline from March to April.
The Asset Tax was introduced in January 2003 under then Prime Minister P. J. Patterson.
The Asset Tax amendment was passed without changes while the Income Tax amendment was approved with one amendment.