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New annual flat income tax for taxi operators
2012-10-04 09:22:59 | (0 Comments)
Jerome Reynolds, Gleaner Writer
The tax authorities and the Jamaica Hackney Carriage Association have reportedly arrived at an agreement which should help taxi operators become income tax compliant.
The associationís president, Willard Costley says operators will now pay a flat rate each year based on the category in which they fall.
He says operators who carry between one and five passengers will pay $20,000 while those who transport between six and 10 passengers will be charged $25,000.
A rate of $30,000 will be applied to operators who carry between 11 and 15 passengers.
Meanwhile, Costley says those who carry between 16 and 30 passengers will pay $45,000 and those carrying more than 30 passengers will be charged $60,000.
The deal between the tax authorities and the Jamaica Hackney Carriage Association comes as the government moves to make it a requirement that transport operators are tax complaint in order to obtain a licence.
This requirement is expected to come on stream next year.
The associationís president says his members will begin to pay the flat tax as of October 15 but the opportunity to do so will expire on November 30.
Source: The Gleaner/Power 106 News
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