Beginning February, Micro, Small and Medium Enterprises (MSMEs) will be able to access Tax Administration Jamaica (TAJ) annual Special Taxpayer Assistance Programme (STAP), to assist with the filing of their statutory returns. The TAJ, in a statement on Wednesday (January 16), indicated that this is being done with view to encouraging MSMEs to file online. The service not only affords...

Tax Administration Jamaica (TAJ) says employers are now required to submit their monthly payroll declaration (S01) electronically, using TAJ’s tax portal at www.jamaicatax.gov.jm. “This means, therefore, that employers filing their S01, due January 14, must do so online,” the TAJ said in a statement on Thursday (January 10). The stipulation forms part of the fifth phase of TAJ’s mandatory e-filing...

The Government on Tuesday (January 8) tabled the Second Supplementary Estimates, which show that the Administration is proposing to spend an additional $11.4 billion for this fiscal year. The document was tabled by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, in the House of Representatives. The Estimates reveal that the budget has been increased from...

Taxpayers filing Corporate Income Tax (CIT) and Assets Tax Returns are now required to do so online via the Tax Administration Jamaica (TAJ) www.jamaicatax.gov.jm portal. The measure, which came into effect on January 1, 2019, also mandates employers to submit their employers’ monthly statutory remittance payroll deductions (S01) electronically in this fifth phase of the mandatory e-filing stipulation. “Employers are,...

The Bank of Jamaica (BOJ) says currency circulation during December 2018, totalled $23.6 billion or 21.4 per cent more than the corresponding period in 2017. This exceeded the BOJ’s $18.1-billion or 16.1-per cent projection, relative to December 2017. The Bank said net currency issued to financial institutions during the last six days of December 2018 totalled $5.5 billion, which was...

The Bank of Jamaica’s (BoJ) says total currency issued into circulation for the week leading up the Christmas holidays, from December 17 to 21, amounted to $13.9 billion. This, it noted, represents a 12.2 per cent increase in the currency stock for the week, and was broadly in line with the $13.5 billion or 13.9 per cent increase for the...

The Bank of Jamaica (BOJ) says total demand for local currency is expected to increase by $18.1 billion or 16.5 per cent, leading to an estimated $128.1 billion in circulation for December 2018. The BOJ indicates that the anticipated increase, which coincides with Christmas festivities, is broadly consistent with the 16.5 per cent growth recorded for December 2017 as well...