Thursday, September 21, 2017

TAJ Reports Growth in Online Filing for FY 2016/17

Tax Administration Jamaica is advising that the online filing (eFiling) rate for most major tax types increased during the 2016/17 financial year. This means that more taxpayers, both individual and companies submitted their returns online using the Revenue Administration Information System (RAiS).

Read more: TAJ Reports Growth in Online Filing for FY 2016/17

$1.5M Income Tax Threshold Now in Effect

The second phase of the two tiered income tax threshold increase announced by the Minister of Finance & the Public Service in the 2016/17 Revenue Measures took effect on April 1, 2017.

This adjustment has resulted in an increase in the threshold or tax-free amount from $1,000,272 to $1,500,096 per annum, broken down on a periodic basis as follows:

Read more: $1.5M Income Tax Threshold Now in Effect

Income Tax Filing Deadline Extended

Tax Administration Jamaica wishes to advise that the deadline to file Final Income Tax Returns for year of assessment 2016 and Estimated Returns for year of assessment 2017 has been extended until Saturday March 25, 2017. Business Owners, Self-Employed persons, Partnerships, Companies and Employed Individuals with other sources of income or multiple employment,  will now have until then to file their returns before the interest and penalties are applied.

Read more: Income Tax Filing Deadline Extended

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