Introduction of Mandatory eFlllng of Tax Returns in Jamaica
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English: Phased implementation of a new system to replace the old one. (Photo credit: Wikipedia)
The Tax Administration Jamaica (TAJ) will be introducing the phased implementation of mandatory e filing.
In this first phase of the exercise the following groups/persons have been identified:
1. All taxpayers with annual turnover greater than or equal to five hundred million dollars ($500,000,000) to e-file :
I. GCT/SCT Returns
II. Income Tax Returns
III. Employers’ Annual Returns (S02)
IV. Employer’s Monthly Statutory Declarations (S01)
2. All taxpayers with GCT refund returns are to e-file. These returns are to be accompanied by a schedule of purchase invoices to verify input tax credit.
3. All Employers with twenty (20) or more employees to e-file Employers’ Annual Return (S02) and Monthly Statutory Declaration (S01)
As a result, effective March 1, 2014 the category of taxpayers filing returns as identified above are required to file electronically via our Jamaica Tax Portal at www.jamaicatax-online.gov.jm.
This requirement is in accordance with the Revenue Administration (Amendment) Act, (RAA) 2013 Section 17GB which provides that the Commissioner General may require any person to furnish a return, as considered necessary, in such form and manner as directed.
In order to support you in meetirrg this legal obligation, UHY Dawgen is available to assist with making the necessary adjustments to comply with this new rule. Call us at:1876-9084007 or email:info@uhy-ja.com
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