JIS News

The deadline for companies, self-employed persons, and employees with alternative sources of earnings to submit their income tax returns for 2008, has been pushed to Monday, March 16.
The Tax Administration Services Department (TASD) had originally set March 15 as the deadline, but this has been revised as the date falls on a Sunday.
In an interview with JIS News, Director of Public Relations at the TASD, Meris Haughton, explained that persons and companies, who are unable to meet the new deadline, may take one of two options.
“Even if they have not completed their accounts, they can file a return without the necessary financial statements. once they have done an internal audit of their operations, they can file a return using that or they can write to the Inland Revenue Department, requesting an extension of the time in which to file a return. Once they have been given that approval in writing, then they would use that date that has been granted by the Inland Revenue Department,” she outlined.
Meanwhile, persons, particularly small business operators, who have yet to file their returns, and are experiencing challenges in preparing the documentation, are being encouraged to utilise the Department’s special taxpayer services programme, which commenced in February, and continues throughout this week.
Assistance may be sourced from any of the 29 tax collectorates islandwide, or by calling the TASD’s help line at: 1-888-TAX-HELP (I-888- 829-4357), for information on the business hours of the nearest collectorates. Income tax return forms and schedules can also be downloaded from the Department’s website at: www.jamaicatax.gov.jm.
Listing the categories of persons and companies required to file returns under the Income Tax Act, Miss Haughton said that this comprised “self-employed persons, and this includes anybody operating partnerships; employed persons with other sources of income. (that is) anybody who has a job, but let’s say they have a business on the side, as well as companies. Additionally, any other organisation, which is not a registered limited liability company, would also be required to file returns,” she explained.
In addition to filing income tax returns for 2008, all categories of individuals and entities are required to file documentation indicating estimated or projected income and the tax payable for 2009, by March 16.Persons, whose incomes exceed $196,872 during 2008, should file a tax return. However, if the income of employees, who have no other source of earnings, was taxed at source by their employer under the Pay as You Earn (PAYE) system, then that individual is not required to file a return.
In instances where businesses have suffered financial losses, those entities are required to file an income tax return. However, the revenue to be paid would be zero, and the loss recorded can be incorporated in documentation when filing future tax returns.

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