Money
JM | Nov 13, 2020

Statutory declarations for October due November 16

/ Our Today

administrator
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With the regular due date of November 14 falling on a Saturday this year, employers are being advised by Tax Administration Jamaica (TAJ) that they’ll have until Monday, November 16, to file statutory deductions (S01) for October without incurring penalties.

“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,” the TAJ also advised.

“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.”

For further information, contact Tax Administration’s Customer Care Centre at 888-Tax-Help (888-829-4357) toll-free or visit www.jamaicatax.gov.jm.

Employers can also 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 30 per cent of the income tax payable in the year of assessment for unregulated entities.

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