Mandatory e-filing of small businesses GCT returns in 2018
KINGSTON, Jamaica —The Tax Administration Jamaica (TAJ) said it will be implementing the next phase of its mandatory e-filing of returns at the start of the 2018/2019 financial year.
As a result, as of April 1, 2018, small and micro businesses registered as GCT taxpayers will be required to e-file their GCT returns via the Jamaica Tax Portal at www.jamaicatax.gov.jm online, as is currently being done by large and medium taxpayers.
According to a release from the TAJ, this new procedural change will require small (lower and upper) and micro taxpayers, classified by annual total supplies/turnover of $150M and below, to file their monthly GCT returns online.
Recent statistics indicate that approximately 59 per cent of this group are already filing their GCT returns online. A further analysis of the data, shows that 64 per cent of all GCT Returns received by TAJ between January and October 2017, have been filed electronically, suggesting a steady increase in the subscription to TAJ’s online services.
To assist small and micro businesses to meet the upcoming obligation, TAJ said it is providing training support to persons identified in this fourth phase of the mandatory e-filing requirement. Taxpayers can therefore, make arrangements for eOne-on-One sessions to train their staff or request an Advisory Visit at their business location to get assistance on the procedure to e-file returns. There will also be the option of conducting online transaction at any major Tax Office at the designated e-TaxSpot, to get support from TAJ personnel while conducting their electronic filing transactions. Additionally, a ‘How To’ guide for e-Filing of Consumption Tax Returns is available online on the TAJ website.
TAJ further informed that, while this group of taxpayers will be mandated to e-file their GCT returns next April, they are encouraged to use the online tax portal to file their GCT Returns for the month of November which is due and must be filed on Friday December 29, 2017. Support will also be provided, if required.
Employers, large and medium taxpayers are already required to file online and TAJ will be moving in short order, to require other taxpayer segments and types of returns to be filed electronically. This move, TAJ said, is in keeping with its continued focus on enhancing system capacity to capture data in a more accurate and timely manner, as well as to assist in the efforts to develop a more efficient tax system.
The amendment to the Revenue Administration Act (RAA) gives the Commissioner General the authority to require any person to furnish a return as considered necessary in such form and manner as directed.
