As of January 11, 2021, Tax Administration Jamaica (TAJ) will begin the pilot phase of a Direct Funds Transfer Project, aimed at improving the process by which customers transfer funds to TAJ’s bank accounts for the payment of taxes and fees. Under the new arrangements, all funds transferred to TAJ’s bank must include a Direct Funds Transfer Number (DFTN), generated...

The Inter-American Development Bank (IDB) has praised the Government for introducing measures to improve public investment management within Ministries, Departments and Agencies (MDAs), and public expenditure efficiency. In a country summary contained in its final 2020 quarterly bulletin, the IDB said the establishment of the Public Investment Management Secretariat (PIMS) has been an “important step” in the thrust to improve...

Tax Administration Jamaica (TAJ) in collaboration with eGov Jamaica Limited has developed the Tax Authority’s first mobile application – TAJ Mobile, adding yet another convenient and secure payment option to its suite of online services. TAJ Mobile facilitates tax payments online anytime, anywhere at no additional cost and no data charge.  The mobile application solution provides a 24/7 hassle-free way to...

The House of Representatives, on Tuesday (December 15), approved measures to designate the services provided by cambios and electronic retail payment providers as financial services under the Banking Services Act. The designation will complement the Bank of Jamaica’s (BOJ) efforts at improving financial services offered to Jamaicans. Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, who...

The Bank of Jamaica (BOJ) is forecasting a $22-billion or 13 per cent increase in total currency to be in circulation for December 2020, relative to November. In a statement on Monday (December 14), the BOJ said the sum projected at the end of December is $190.9 billion, which would be consistent with heightened expenditure associated with the Christmas season,...

Tax Administration Jamaica (TAJ) is reminding business persons that quarterly Income Tax/Statutory Payments are due on December 15, 2020. Additionally, monthly Statutory Deductions are due on December 14 respectively for the following: -Estimated Corporate Income Tax (4th quarter) -Self Employed Statutory Payments (4th quarter) -Statutory Deductions (S01) for November Business persons are being encouraged to use TAJ’s online service option...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says a significant number of COVID-19 Economic Recovery Task Force recommendations are being implemented across government ministries. Among these, he said, is the implementation of laws that are consistent with Jamaica’s international tax obligations, noting that the recent amendment of the Revenue Administration Act is consistent with that....