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JIS News

Acting Director General of Tax Administration, Vinette Keene, is reminding employers that the deadline to remit PAYE (Income Tax) deductions for January 2006 is February 14.
Mrs. Keene was speaking at a press briefing held yesterday (Feb. 8) at the Ministry of Finance and Planning in Kingston. The reminder comes against the introduction of the new Employer’s PAYE Monthly Remittance – Deduction of Tax from Emoluments (Form No. P30) on February 1, 2006.
The new form will replace the remittance card, which employers are required to submit when paying over PAYE taxes deducted from their employees’ wages and salaries. Additionally, the meeting discussed a number of initiatives undertaken and introduced by the Tax Administration to improve service delivery.
Speaking with JIS News, Norma Kerr-Clarke, Commissioner of the Inland Revenue Department (IRD) explained that, “the form is being introduced now to allow for a more effective capture of the employers tax liability. It will facilitate easier tracking of the liability of employers by the IRD, thereby ensuring that they comply by paying on a timely basis”.
The IRD will benefit greatly from the implementation of the new form, as employers will complete sections showing the total amounts deducted on a monthly basis, as well as the portion of the amount being paid over. “The form will allow for the easy transfer of information to be documented on file and is in keeping with the IRD’s ongoing integrated computerized system,” she noted.
Form No. P30 is available online at the website www.jamaicatax.gov.jm or at any of the 28 collectorates across the island. Persons, who are not familiar with the new form, can get assistance by calling any of the collectorates islandwide for a tax officer to visit their company or call 1-888-TAX-HELP for further information.
By law, PAYE taxes deducted must be paid to the Collector of Taxes no later than the 14th day of each month. Therefore, employers are reminded that the Tax Administration will be automatically applying the mandatory penalty of 50 per cent per annum for late payments and a further 40 per cent interest per annum, on outstanding taxes and penalties.
The new PAYE form is one of the Tax Administration’s newest service initiatives, and is in keeping with the ongoing computerization process.