Statutory deductions due January 16 — TAJ
KINGSTON, Jamaica – The Tax Administration Jamaica (TAJ) is reminding taxpayers that the December statutory deductions are due on Monday January 16.
According to the TAJ, all statutory deductions (S01) are due on the 14th day of the month. However, this year January 14 falls on a Saturday therefore taxpayers will be able to submit their December S01 the following working day, Monday, January 16, in order to avoid a penalty.
TAJ is also reminding taxpayers who submit payments on-time that they can benefit from the employment tax credit.
“To qualify, eligible people 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,” TAJ explained.
The maximum amount that can be claimed is 30 per cent of the income tax payable in the year of assessment for unregulated entities.
For further information individuals may contact the TAJ’s Customer Care Centre at 1-888-Tax-Help (1-888-829-4357) toll-free or visit their website at www.jamaicatax.gov.jm.