Implementation of Withholding Tax on Specified Services Date Postponed
By: , May 29, 2015The Key Point:
The Facts
- Further discussions will be held to examine issues raised related to the implementation of the new legislation, particularly for entities that currently do not issue withholding tax certificates.
- Upon conclusion of the discussions, TAJ will issue a release on any modifications agreed and the revised implementation date.
The Full Story
The Ministry of Finance and Planning (MOFP) is advising that the implementation of withholding tax on specified services is postponed, until further notice.
The Minister of Finance and Planning, Dr. the Honourable Peter Phillips and the Commissioner General, Tax Administration Jamaica (TAJ), Mr. Ainsley Powell recently met with stakeholders from various private sector groups and have agreed to delay implementation currently slated for June 1.
Further discussions will be held to examine issues raised related to the implementation of the new legislation, particularly for entities that currently do not issue withholding tax certificates. Upon conclusion of the discussions, TAJ will issue a release on any modifications agreed and the revised implementation date.
Tax Withholding Agents are encouraged to use this period to continue configuring their systems in preparation for the new implementation date.
The TAJ Technical Specialist Unit is available to provide guidance, as needed.