Business
JAM | Sep 11, 2024

One-day extension for income tax payments

/ Our Today

administrator
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Tax Administration Jamaica (TAJ) has extended the deadline for the payments of third-quarter estimated corporate income tax and self-employed statutory submissions by one day.

Payments are usually due on September 15. However, TAJ had extended the deadline to the following day, Monday September 16, 2024. This is because the 15th of the month occurs on the weekend. 

The taxes due on this date include: Estimated Corporate Income Tax (third quarter),  Self-Employed Statutory Payments (third quarter); Stamp Duty (third quarter);  Trade Licence and Withholding Tax. Similarly, Employers’ Monthly Statutory Payroll Deductions (S01) for August are due on September 16, as the usual due date of the 14th of the month also falls on the weekend.

The Tax Administration of Jamaica building in Constant Spring, ST Andrew

Business owners are reminded of the payment options at their fingertips, which include TAJ Direct Funds Transfer for business-related tax payments. This is in addition to customers being able to make payments via the Tax Authority’s website www.jamaicatax.gov.jm using a credit card or other banking card with credit card features.

In addition to the various online payment options available, individuals are reminded that they may still pay at any of the 28 TAJ offices. Employers paying over monthly statutory deductions are reminded that they can benefit from an Employment Tax Credit by paying their S01 on time. 

People are also encouraged to honour their tax obligations by making payments on or before the respective due dates to avoid additional interest and penalties. 

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