August 16, last day for employers to file statutory deductions without penalty

Tax Administration Jamaica (TAJ) says Monday, August 16 will be the last day for employers to file their statutory deductions for July without incurring a penalty.

Usually, the statutory deduction would have been due on the 14th day of the month. 

However, this month, the 14th will fall on a weekend.

The TAJ says employers may use several online payment options using a credit card or any banking card with credit card features.

Employers can benefit from a tax credit if they make their payments on time.

Eligible persons must file and pay their monthly statutory payroll deductions 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," said a TAJ spokesperson.

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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