If this is your first tax season as a new business owner or someone who is learning about tax returns for the first time here is some thing to consider.

All companies, self-employed individuals, other bodies such as partnerships and Provident Societies and employees with other sources of income must file an Income Tax Final Return as of 2011 and also file an Estimated Income Tax Return indicating estimated or projected income and the tax payable for the current year.

The taxpayer must ensure that the correct form is used to file their Income Tax Annual Return and a Declaration of Estimated Income and Tax Payable. For example a self-employed person or an employed person with additional income would use Form IT01, while a company would use a Form IT02. All categories of persons would use a Form IT07 to declare their estimated income and tax payable. All forms are available online at www.jamaicatax.gov.jm or at any Tax Office.

Income tax returns and applicable payments are made:

1. Online: at www.jamaicatax-online.gov.jm

To use the online option to file, persons must first be registered to use the Jamaica Tax Portal. This may be done through the Customer Care Centre at 1-888-TAX-HELP (829-4357) or at a tax office. Payments can be made using a credit card or by Direct Bank Transfer in relation to larger sums; or

2. In line: At any of the 29 Tax Offices located across the island.

At the tax offices, persons may use cash, credit card, debit card or cheque to pay. If persons are paying by cheque or filing a “nil” return (no tax due), they may use the manual drop box facility in any tax office or electronic drop boxes located in the larger offices.

Returns: Income Tax returns — Annual and Estimated — MUST be filed by March 15.