Tax Season is here and before you know it, it will be March 15 when submissions are due. Undoubtedly persons are about preparing to submit their income tax returns while others are still left asking who, what, where, when and why they should file and pay.

Anyone who operates a business or receives income which has NOT been taxed at source is required under the Income Tax Act to file an Income Tax return each year. Every individual should file a tax return. However, if the person only receives income from employment and/or bank interest and the income was already taxed at source by an employer under the Pay As You Earn (P.A.Y.E.) system and/or by the bank under the withholding tax system then there is no need to file a tax return. The exception would be if the Commissioner General requests that the person does so.

Tax Administration Jamaica (TAJ) has begun its Tax Season activities by engaging tax professionals, business persons and self-employed individuals in stakeholder sessions, during its road trips in both Kingston and Montego Bay last week. This move forms part of tax support activities to engage interest groups to assist their membership and/or clientele make the necessary preparations to file their final Income Tax Returns for 2016 as well as their Estimated Income Tax Returns for 2017.