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2015, April 29 - Tax Education - Important for Your Business (Part II)

BAS Bulletin – April 29, 2015
(Extracted from Business Observer - Wednesday, April 15, 2015)

This week's excerpt from EXIM Bank's Business Advisory Services radio programme will continue to focus on some of  Tax Administration Jamaica's (TAJ) new initiatives to improve efficiency and streamline processes to make tax payments easier and more convenient for taxpayers, shared by TAJ's Taxpayer Education Officer, Mr. Brandon Stewart.

The information below may be useful for not only logistics hub-centred businesses, but for SME's operating in just about any other sector in Jamaica:

  • With the implementation of TAJ's new Revenue Administration Information System (RAiS), E-filing for all employers filing Annual Returns (SO2) is now mandatory. However, persons are being reminded that they must register for online filing in order to have access to the relevant forms on the system.
  • With the TAJ's newly expanded E-business platform, it is also mandatory for companies having turnovers of over $500M or large taxpayers to file all returns online. This also includes the filing of General Consumption Tax (GCT) and credit claims relating to the newly implemented GCT on Withholding Tax Measure that was announced in the Parliament last year.
  • Mr. Stewart is assuring all taxpayers that the TAJ is doing all that it can to provide the necessary support services to make the tax return process as easy and convenient as possible. Some of these include making human resources available to accommodate in office visits and telephone queries, as well as working on the establishment of  an E-filing Centre at their St. Andrew Revenue Services Centre, Constant Spring, to provide dedicated services to assist persons who are E-filing their returns.
  • Taxpayers are being reminded that the TAJ's customer contact centre can be reached at 1-888- TAX-HELP (829-4357) and a lot of information can also be accessed from their website at www.jamaicatax.gov.jm.

Mr. Stewart was a recent guest on EXIM Bank's Business Advisory Services radio programme, EXIMBankja, which is aired seasonally on Power 106 and Nationwide News Network as well as on JIS' network of radio stations islandwide.

Please look out for more informative excerpts from other episodes of EXIM's Business Advisory Services radio programme, EXIMBankja.  You may also check the media room of the Bank's website for more information at www.eximbankja.com.

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