Tax Administration Jamaica (TAJ) wishes to advise employers that statutory deductions (S01) for October are due on Monday November 16, 2020. This is as a result of the usual due date of the 14th day of the month falling on the weekend. Taxpayers will therefore be allowed to submit their October S01 the following business day, Monday November, 16 without incurring any penalty.
National Commercial Bank (NCB) personal and corporate customers may now opt to make payments, using the convenience of their NCB eBanking platform by adding TAJ as a payee. Persons are further reminded that payments may be made online via the TAJ website, using a credit card or a bank card with credit card features or via BNS automatic direct deposit.
Additionally, employers can benefit from the employment tax credit if they make their payments on time. Eligible persons MUST file and pay their monthly statutory payroll deductions (S01) on time. Such employers may claim the total amount of payroll statutory contributions for Education Tax, NHT, NIS and HEART, that is, both the employee and employer portions, which have been declared and paid on time for that year.
The maximum amount that can be claimed is thirty percent (30%) of the Income Tax payable in the year of assessment for unregulated entities.
For further information persons may contact the Tax Administration’s Customer Care Centre at 888-Tax-Help (888-829-4357) toll-free or visit our website at www.jamaicatax.gov.jm.