I www.jamaica-gleaner.com FINANCIAL GLEANER FRIDAY, FEBRUARY 27, 2026
II www.jamaica-gleaner.com FRIDAY, FEBRUARY 27, 2026 FINANCIAL GLEANER | TAJ FILING YOUR TAXES FEATURE FILING YOUR income tax return is an important part of meeting your tax obligation. Whether you are a salaried employee, self-employed person, company, or other entity, knowing who must file, what you need to file, and how to make payments can help you stay compliant and avoid unnecessary penalties. WHO IS REQUIRED TO FILE AN INCOME TAX RETURN? Individuals You are required to file an income tax return if, during the year: You earned income from employment, self-employment, investments, rental property, or other sources, and your total income exceeds the tax-free threshold (as defined by the current Income Tax Act). Self-Employed Persons and Sole Proprietors If you operate a business or work as a contractor, consultant, or freelancer, you must file an income tax return, regardless of your level of income. This includes sole proprietors, partners in a partnership, and professionals. Companies and Corporations All companies carrying on business or deriving income in Jamaica must file an Income Tax Return. Trusts and Estates Trustees and administrators of estates are required to file returns on behalf of the trust or estate if income has been generated. WHAT IS TO BE FILED? All categories of persons must file an income tax final return for last year (2025) and also file an estimated income tax return, indicating the estimated or projected income and the tax payable for the current year (2026). Specific returns are provided for the different categories of taxpayers. For example, a self-employed person or an employed person with other sources of income would use Form S04, while a company would use a Form IT02. To declare the estimated income and tax payable, self-employed persons would use a Form S04A, while a company and other organisations would use a Form IT07. Other return forms include; IT03 – Filed by unincorporated bodies not being individuals (eg, partnership, trusts). IT05 – For individuals being employed persons or pensioners applying for refund. IT12 – Filed by approved charities. IT15 – Filed by approved developers and occupants operating in Special Economic Zones. WANT TO KNOW HOW TO FILE? TAJ continues to enhance its digital infrastructure, making it easier for taxpayers to conduct business. Taxpayers are required to file online using TAJ’s Tax Portal, www.jamaicatax.gov.jm. The online filing is fast, secure, and simple: /RJ LQ RU FUHDWH DQ DFFRXQW RQ WKH 7$- Tax Portal. 6HOHFW WKH ¶0DQDJH P\ ( VHUYLFHV Account’ under the E-services tab, then VHOHFW WKH ¶,QFRPH 7D[ UHWXUQ W\SH· LQGLvidual, self-employed, or business). &RPSOHWH WKH UHWXUQ E\ HQWHULQJ LQIRUmation relative to your business (income from all sources and allowable expenses and deductions) 8SORDG VXSSRUWLQJ GRFXPHQWV ZKHUH applicable. 6XEPLW DQG SD\ DQ\ RXWVWDQGLQJ WD[HV via TAJ website at www.jamaicatax.gov. jm 1&% RU 6FRWLD RQOLQH EDQNLQJ 'LUHFW Funds Transfer or at a Tax Office. Have questions or need assistance? TAJ provides assistance through the Special Taxpayer Assistance Programme sessions, Income Tax Hub on TAJ’s website at www.jamaicatax.gov.jm, or customer care at 888-TAX-HELP (888-829-4357). A guide to understanding and filing income tax returns in Jamaica Don’t wait until the last minute; file your taxes now to avoid penalties!
III www.jamaica-gleaner.com FINANCIAL GLEANER FRIDAY, FEBRUARY 27, 2026 TAJ FILING YOUR TAXES FEATURE | WE ARE now in tax season. Companies, other organisations, company directors, self-employed and employed persons who earn additional income should now be in high gear to file Income Tax Returns. Knowledge is power, so here are some useful tips to make sure you know how, and who knows you could realise some savings too. #TAXTIP1: FILING DUE DATE This year, the GOJ has introduced separate filing due dates for annual individual and corporate income tax returns. For individuals, such as self-employed persons and partners, the due remains at March 15, but persons can file up to March 16, as the 15th is on the weekend. For companies and other corporate bodies, the new due date is April 15. Note: All estimated returns are due on March 16. Additionally, all tax returns are to be filed online. #TAXTIP2: APPLY INCOME TAX THRESHOLD RELATED TO THE CORRECT YEAR The Income Tax Threshold (tax-free amount) for individuals for year of assessment 2025 is $1,774,544 and for 2026 is $1,876,614. #TAXTIP3: USE CORRECT FORM All the forms are available in TAJ’s eService. Persons are advised to use the form associated with the structure and type of their business and submit by the applicable due date, as follows: Ownership/Business Type Year 2025 – Form # Due Date Year 2026 – Form # Due Date Self-employed/partners/ S04 March 16 S04A March 16 employed with additional income or multiple employment Company IT02 April 15 IT07 March 16 Partnership IT03 March 16 IT07 March 16 Unincorporated Bodies IT03 April 15 IT07 March 16 (eg, Building Societies, Trusts, Co-operative Societies) Life Assurance IT04 April 15 IT07 March 16 Pensioner/Employed IT05 N/A N/A N/A (PAYE only) Approved Charities IT12 April 16 IT07 March 16 Entities in the Special IT15 April 16 IT07 March 16 Economic Zones 12 tax tips for filing income tax returns TALKING TAX MORE ON IV
IV www.jamaica-gleaner.com FRIDAY, FEBRUARY 27, 2026 FINANCIAL GLEANER | TAJ FILING YOUR TAXES FEATURE #TAXTIP4: COMPLETE FORM CORRECTLY All relevant sections of the forms and related schedules are to be completed. It is also important that accounting information, such as gross sales/income, total expenses, net profit and deductions be ALL filled in. #TAXTIP5: CLAIM CREDITS Eligible employers may claim Employment Tax Credit (ETC). This represents the lower of the monthly statutory (Education Tax, NIS, NHT and HEART) made, ON TIME and IN FULL, or 30% of the tax on trade, business, profession or vocation. Individuals (self-employed/employed) may claim the new Photovoltaic Solar System Tax Credit if they had acquired and installed a solar system at their primary residence on or after January 1, 2023 and qualified for the credit. #TAXTIP6: APPLY EXEMPTIONS Pensioners should apply the exemption of $250,000 to their 2025 income tax returns. Similarly, persons 65 and over should apply $250,000 to their 2025 income tax returns. Individuals who are both pensioner and over 65 should apply both exemptions where they were not given a determined rate by TAJ. NOTE: Exemptions are in addition to the income Tax Threshold. #TAXTIP7: FILE EARLY File early to avoid the last-minute rush. Even though returns must be filed online, traffic online will get heavier the closer it gets to the respective filing deadlines, so give yourself time to complete and submit. #TAXTIP8: AVOID LATE-FILING PENALTY Make sure to file tax returns on or before the respective deadlines, March 15 or April 15, as an automatic penalty of $5,000 per month, or part thereof, is applied to returns filed late... and one day late is still late. File early to avoid the last-minute rush. Even though returns must be filed online, traffic online will get heavier the closer it gets to the respective filing deadlines, so give yourself time to complete and submit.
V www.jamaica-gleaner.com FINANCIAL GLEANER FRIDAY, FEBRUARY 27, 2026 TAJ FILING YOUR TAXES FEATURE | #TAXTIP9: FILE RETURN EVEN IF YOU HAVE A LOSS OR NO INCOME FROM TRADE All companies are required to file an income tax return whether or not they have commenced trading or even if they make losses. Currently, the law allows for up to 50% of business profits in any year to be used to write off prior-year losses. The 50% restriction does not apply where the business is within the first six years of trading or has gross sales less than $10 million. The annual return and the estimated declaration for self-employed persons are used to report income, taxes, and contributions. Therefore, where no income tax is payable, the taxpayer is still required to file in order to account for the other obligations. #TAXTIP10: ONLINE PAYMENT OPTIONS Take advantage of any of the convenient alternate payment options available, instead of visiting a Tax Office to pay taxes due. Persons can pay via the TAJ website at www.jamaicatax.gov.jm using a credit card or debit card with credit card features; direct funds transfer from their bank account to TAJ’s bank account; Using NCB Online, Scotia Online or mobile app to make a bill payment to TAJ. #TAXTIP11: PAY SOMETHING IF NOT THE FULL AMOUNT While a part-payment can be made on or by the respective due dates, interest and penalties still apply to unpaid amounts. Estimated payments for 2026 are due quarterly – March 15, June 15, September 15 and December 15 – and interest is applicable to late payments. #TAXTIP12: SEEK HELP If you are not sure how to go about filing your returns online, making payments, or you simply need assistance, call the TAJ Customer Care Centre at 888-TAX-HELP, or take advantage of TAJ’s Special Taxpayer Assistance Programme (STAP) or webinars (schedules available online), or visit the Income Tax Hub on the TAJ website, www. jamaicatax.gov.jm. You may also engage the services of an accountant. All companies are required to file an income tax return whether or not they have commenced trading or even if they make losses. Currently, the law allows for up to 50% of business profits in any year to be used to write off prior-year losses. The 50% restriction does not apply where the business is within the first six years of trading or has gross sales less than $10 million.
VI www.jamaica-gleaner.com FRIDAY, FEBRUARY 27, 2026 FINANCIAL GLEANER | TAJ FILING YOUR TAXES FEATURE WHAT YOU NEED TO KNOW THE GOVERNMENT has introduced an adjustment to the income tax filing deadline – extending Corporate Income Tax and Assets Tax from March 15 to April 15 for certain taxpayers. This change is part of recent amendments to the Income Tax Act and Assets Tax Act approved by the House of Representatives and reflects ongoing reforms to support tax compliance and ease administrative pressure on businesses. WHAT HAS CHANGED AND WHO IS AFFECTED? For many years, companies and corporate entities in Jamaica were required to file returns and pay income tax by March 15 following the end of the year of assessment. Now, the filing and payment deadline for Corporate Income Tax has been officially moved to April 15, starting with income taxes for the Year of Assessment 2025. This shift gives companies an extra month to complete their tax filing and settlement. The revision in the Income Tax Act also aligns the deadline for the Assets Tax, applicable to specific financial institutions, with the new April 15 due date. The revised April 15 deadline will apply to the following returns filed by corporate bodies: $7 ² $QQXDO 'HFODUDWLRQ RI $VVHWV ,7 ² $QQXDO ,QFRPH 7D[ 5HWXUQ IRU %RGLHV &RUSRUDWH ,7 ² $QQXDO ,QFRPH 7D[ 5HWXUQ IRU /LIH $VVXUDQFH Companies ,7 ² $QQXDO ,QFRPH 7D[ 5HWXUQ IRU 5HJLVWHUHG Charitable Organisations ,7 ² $QQXDO ,QFRPH 7D[ 5HWXUQ IRU HQWLWLHV RSHUating within the Special Economic Zone ,7 ² $QQXDO 5HWXUQ RI ,QFRPH DQG 7D[ 3D\DEOH Organisations (e.g., building societies, trusts, co-operative societies) INDIVIDUAL AND SELF-EMPLOYED FILERS 3HUVRQDO ,QFRPH 7D[ DSSO\LQJ WR VHOI HPSOR\HG SHRSOH LQGLYLGXDOV DQG SDUWQHUV XVLQJ WKH 6 UHWXUQ DQG SDUWQHUVKLS XVLQJ D ,7 UHWXUQ LV VWLOO GXH RQ 0DUFK annually, but is due on March 16 this year, 2026. In addition, there has been no change to the due dates for Estimated Tax filings and quarterly payments for both ,QGLYLGXDO 6 $ DQG &RUSRUDWH ,72 ZKLFK DUH GXH 0DUFK -XQH 6HSWHPEHU DQG 'HFHPEHU DQQXDOO\ WHY THE CHANGE? Shifting key deadlines to April allows the government to better manage cash flow early in the fiscal cycle and gives businesses more time to prepare the required accurate returns. WHAT THIS MEANS FOR TAXPAYERS The extended deadline can ease the compliance burden for business taxpayers by allowing more time for finalising financial statements, resolving tax adjustments, and preparing accurate filings. The move to April 15 signals greater alignment with common accounting cycles and international practice. The shift in the income tax due date from March 15 to April 15 for corporate bodies represents an important tax policy update in Jamaica. It offers greater flexibility and improved fiscal administration and is expected to benefit corporate taxpayers and government planning alike. Adjustments to income tax filing deadline For many years, companies and corporate entities in Jamaica were required to file returns and pay income tax by March 15 following the end of the year of assessment. Now, the filing and payment deadline for Corporate Income Tax has been officially moved to April 15, starting with income taxes for the Year of Assessment 2025.
I www.jamaica-gleaner.com FINANCIAL GLEANER FRIDAY, FEBRUARY 27, 2026 VII ADVERTISEMENT
VIII www.jamaica-gleaner.com FRIDAY, FEBRUARY 27, 2026 FINANCIAL GLEANER | TAJ FILING YOUR TAXES FEATURE IN RESPONSE to the devastating impact of Hurricane Melissa on Jamaica, the Government has introduced a targeted tax-relief measure to help workers recover. This initiative allows employers to make tax-free cash payments to employees who suffered loss or damage from the hurricane, easing financial stress and accelerating personal recovery efforts. WHY THE MEASURE? Hurricane Melissa struck Jamaica as a powerful Category 5 storm; leaving many communities severely affected by flooding, wind damage, and destruction of homes and livelihoods. In recognition of the widespread hardship faced by workers nationwide, several employers embarked on initiatives to give employees financial support in their recovery efforts. The Government of Jamaica, in recognising possible tax implications, saw it fit to make necessary legislative amendment to assist employers who support affected employees without imposing additional tax burdens. FEATURES OF THE TAX-FREE RELIEF UNDER THE POLICY Eligible payments: Employers can make cash payments to employees specifically intended for personal recovery and welfare following the hurricane. Maximum amount: Each employee may receive up to J$200,000 (aggregate) as a tax-free benefit. Qualifying period: Payments must be made between November 1, 2025 and March 31, 2026. No deductions or contributions: Qualifying amounts are exempt from PAYE (income tax), Education Tax, National Insurance Scheme (NIS), and National Housing Trust (NHT) deductions, and employers also do not owe statutory contributions on these amounts. Allowable deduction: Employers can treat qualifying payments as an allowable deduction for corporate tax purposes. CASH ONLY, NO GIFTS IN KIND It is important to note that the relief applies only to cash payments or cash-equivalent vouchers. Gifts in kind, such as goods, building materials, food parcels, or household items, do not qualify for the tax-free treatment and remain taxable under the normal emoluments rules. WHAT SHOULD EMPLOYERS DO? Employers who qualify must retain adequate records of the following: -XVWLFH RI WKH SHDFH -3 RU PLQLVWHU RI UHOLJLRQ FHUWLILHG GHFODUDWLRQ IURP WKH HPployee, confirming that damage or loss was done due to the passage of Hurricane Melissa; $OO HOLJLEOH HPSOR\HHV DQG WKH TXDOLI\LQJ DPRXQWV SDLG 6RXUFH RI IXQGV XVHG WR PDNH WKH TXDOLI\LQJ SD\PHQWV (PSOR\PHQW FRQWUDFW IRU QRQ UHVLGHQW HPSOR\HHV WR ZKLFK TXDOLI\LQJ SD\PHQWV were made. (The contract must have an effective date prior to the passage of Hurricane Melissa.) Any payments that exceed the J$200,000 cap, or that are made before November 1, 2025 and after March 31, 2026, are treated as taxable emoluments and subject to the usual statutory deductions and contributions. This relief is designed to give immediate financial assistance to employers who assisted employees during the recovery period, at the expense of their business. Tax-free relief on employer-paid emoluments for recovery support Hurricane Melissa struck Jamaica as a powerful Category 5 storm; leaving many communities severely affected by flooding, wind damage, and destruction of homes and livelihoods. In recognition of the widespread hardship faced by workers nationwide, several employers embarked on initiatives to give employees financial support in their recovery efforts. The Government of Jamaica, in recognising possible tax implications, saw it fit to make necessary legislative amendment to assist employers who support affected employees without imposing additional tax burdens.
I www.jamaica-gleaner.com FINANCIAL GLEANER FRIDAY, FEBRUARY 27, 2026 IX ADVERTISEMENT
X www.jamaica-gleaner.com FRIDAY, FEBRUARY 27, 2026 FINANCIAL GLEANER | TAJ FILING YOUR TAXES FEATURE Understanding capital allowance in Jamaica CAPITAL ALLOWANCE is the mechanism provided for Jamaica’s tax code, which allows taxpayers to write off the capital expenditure incurred on qualifying assets used in earning taxable income. This mechanism allows for the write-off to occur over the deemed life of the asset or its period of usage in the business. The amount so written off is treated as a deductible expense in arriving at the taxpayers’ chargeable/statutory income. One of the revenue measures that was announced in the 2025-2026 Budget presentation was the Accelerated Capital Allowance Regime. This regime is applicable to capital expenditure incurred during the period January 1, 2025–December 31, 2026 on industrial buildings and structures, non-residential buildings, as well as specified machinery and plant. Its main feature include: 7KH LQWURGXFWLRQ RI WKH QHZ ¶6SHFLDO $OORZDQFH· LQ PLEASE SEE CAPITAL, XII
I www.jamaica-gleaner.com FINANCIAL GLEANER FRIDAY, FEBRUARY 27, 2026 ADVERTISEMENT XI
XII www.jamaica-gleaner.com FRIDAY, FEBRUARY 27, 2026 FINANCIAL GLEANER CAPITAL CONTINUED FROM X | TAJ FILING YOUR TAXES FEATURE respect of industrial buildings and structures, as well as non-residential buildings. ,QFUHDVHG UDWHV RI WKH LQLWLDO DOORZDQFH DQG DQQXDO DOORZDQFH in respect of industrial buildings and structures, as well as specified SODQW DQG PDFKLQHU\ 7KH DYDLODELOLW\ RI LQLWLDO DOORZDQFH DQG LQFUHDVHG UDWHV RI DQnual allowance on capital expenditure incurred on non-residential buildings. 7KRVH FKDQJHV DUH GHVLJQHG WR VSXU LQYHVWPHQW LQ SURGXFWLYH DVVHWV ZKLFK LV H[SHFWHG WR ERRVW HFRQRPLF JURZWK LQ WKH PHGLXP to long term. Why Capital Allowances Matter &DSLWDO DOORZDQFH LV D GHGXFWLEOH H[SHQVH DQG DV VXFK LW FDQ VXEVWDQWLDOO\ UHGXFH WD[DEOH LQFRPH DQG LQFRPH WD[ SD\DEOH HVSHFLDOO\ IRU EXVLQHVVHV PDNLQJ VLJQLILFDQW FDSLWDO LQYHVWPHQWV :LWK WKH HQKDQFHG DOORZDQFHV DYDLODEOH RQ FDSLWDO H[SHQGLWXUH LQFXUUHG RQ FHUWDLQ DVVHWV GXULQJ WKH ² SHULRG EXVLQHVVHV PD\ VWUDWHJLFDOO\ FRQVLGHU WKH DFTXLVLWLRQ DVVHW QHHGHG IRU WKH UHWRROLQJ RI WKHLU RSHUDWLRQV LQ WKHLU WD[ DQG LQYHVWPHQW SODQQLQJ Capital Allowance and Income Tax Filing )RU PRVW WD[SD\HUV LQFRPH WD[ UHWXUQV DUH OHJLVODWLYHO\ GXH E\ 0DUFK RI WKH \HDU IROORZLQJ WKH \HDU RI DVVHVVPHQW <$ IRU ZKLFK WKH ILOLQJ LV EHLQJ PDGH +RZHYHU WKH GHDGOLQHV IRU WKH ILOLQJ RI DQQXDO LQFRPH WD[ UHWXUQV DQG HVWLPDWHG GHFODUDWLRQV IRU WKH <$ DQG UHVSHFWLYHO\ DUH DV RXWOLQHG LQ WKH IROORZLQJ WDEOH March 16, 2026 April 15, 2026 Individual Income Tax - S04 & S04A Corporate Income Tax Annual - IT02 Partnership Income Tax - IT03 Corporate Income Tax - Other - IT03 - Building Societies, Industrial Providence Societies, Co-operative societies, trust estate, deceased person’s estate, any other unincorporated bodies IT07 Corporate Income Tax - Insurance - IT04 Corporate Income Tax - Charity - IT12 Estimated Declaration for Corporate Corporate Income Tax SEZ - IT15 Income Tax SEZ - IT15A Asset - Regulated Annual - AT02 7KH WD[SD\HUV FODLPLQJ FDSLWDO DOORZDQFH DUH UHTXLUHG WR FRPSOHWH WKH &DSLWDO $OORZDQFH 6FKHGXOH 6FKHGXOH DQG XSORDG LW DV DQ DWWDFKPHQW WR WKH LQFRPH WD[ UHWXUQ $OO LQFRPH WD[ UHWXUQV DUH WR EH ILOHG H[FOXVLYHO\ RQOLQH ,Q RUGHU WR ILOH RQOLQH D WD[SD\HU LV UHTXLUHG WR KDYH DQ DFWLYH H 6HUYLFHV DFFRXQW RQ WKH WD[ SRUWDO )RU DVVLVWDQFH SOHDVH FRQWDFW Customer Care Centre at taxhelp@taj.gov.jm RU FDOO WD[ KHOS JR MD WD[ RU FRQWDFW WKH 7D[SD\HU (GXFDWLRQ 7HDP DW DQ\ RI RXU 5HYHQXH 6HUYLFH &HQWUHV ORFDWHG LQ 6W $QGUHZ .LQJVWRQ 0DQGHYLOOH RU 0RQWHJR %D\ For most taxpayers, income tax returns are legislatively due by March 15 of the year following the year of assessment (YA) for which the filing is being made.
I www.jamaica-gleaner.com FINANCIAL GLEANER FRIDAY, FEBRUARY 27, 2026 ADVERTISEMENT XIII
XIV www.jamaica-gleaner.com FRIDAY, FEBRUARY 27, 2026 FINANCIAL GLEANER | TAJ FILING YOUR TAXES FEATURE THE GOVERNMENT of Jamaica (GOJ) has introduced an increase in the income tax threshold for individuals in the recent revenue measures outlined in the 2025-2026 Budget presentation. This increase directly affects how much of your income is taxed and how much you get to keep, and reflects the Government’s efforts to reduce the tax burden on individuals and strengthen economic resilience. WHAT IS THE THRESHOLD? In Jamaica’s tax system, the income tax threshold (or tax-free threshold) is the level of annual income an individual is allowed to earn before income tax is levied. Income tax is levied on amounts in excess of the threshold. Any income at or below this threshold is taxed at the rate of zero, meaning you do not pay tax on that portion of earnings. For example, if the threshold is $1.7 million and you earn $1.7 million or less in a year, you will not pay income tax on those earnings. If you earn more, you pay tax only on the amount above the threshold. WHAT’S CHANGING? The Government announced a gradual increase of the personal income tax threshold from $1.7 million to $2 million over a three-year period, beginning on April 1, 2025. The staged increases are as follows: $SULO 7KUHVKROG ULVHV WR DSSUR[LPDWHO\ million $SULO 7KUHVKROG LQFUHDVHV WR DURXQG million $SULO )LQDO HOHYDWLRQ WR DERXW PLOOLRQ This phased approach allows taxpayers and employers to plan, and provides for cash flow management. WHY HAS THE THRESHOLD BEEN INCREASED? The primary purpose of raising the threshold is to reduce the tax burden on individuals, especially lower- and middle-income earners, and allows taxpayers to retain a greater share of their earnings. This measure supports disposable income growth; it helps workers keep more of their money, and stimulates economic activity through increased consumer spending. It also reflects Government’s policy objective to make the tax system fairer and more equitable by lifting more people out of the income tax bracket. Persons who earn less than the threshold are not required to pay income tax, which can particularly benefit first-time earners, young professionals, and small business owners. WHAT DOES THIS MEAN FOR TAXPAYERS? Here’s a breakdown of how taxpayers will benefit from the increased threshold: 1. More tax-free income With each incremental rise in the threshold, you keep more of what you earn. For example, when the threshROG PRYHV WR PLOOLRQ WKH ILUVW PLOOLRQ RI \RXU annual income will not be taxed, meaning lower overall tax liability. 2. Relief for middle-income earners Individuals earning just above the current threshold will enjoy immediate tax relief as the threshold rises. For instance, someone earning just above the current threshold will see a significant portion of their income become tax-free when the threshold increases. 3. Encouragement for self-employed and small businesses Self-employed individuals and small business owners are allowed additional income to take care of additional business expenses or investments. Increasing the threshold reduces their taxable income base and can improve cash flow and profitability. By gradually increasing the income tax threshold, more Jamaicans will benefit from enhanced tax-free earnings, resulting in increased take-home pay, greater household liquidity, and strengthened economic confidence. The phased implementation also offers predictability for taxpayers and employers alike; an important factor in personal financial planning and business budgeting. A strong revenue measure Understanding the increase in the income tax threshold & what it means for taxpayers The primary purpose of raising the threshold is to reduce the tax burden on individuals, especially lower- and middle-income earners, and allows taxpayers to retain a greater share of their earnings. This measure supports disposable income growth; it helps workers keep more of their money, and stimulates economic activity through increased consumer spending.
I www.jamaica-gleaner.com FINANCIAL GLEANER FRIDAY, FEBRUARY 27, 2026 XV ADVERTISEMENT
XVI www.jamaica-gleaner.com FRIDAY, FEBRUARY 27, 2026 FINANCIAL GLEANER | TAJ FILING YOUR TAXES FEATURE Special Taxpayer Assistance Programme: Helping taxpayers file their annual returns IT IS important for all taxpayers who earn income to contribute towards national development through declaring and filing their income tax returns. This process may be challenging for some persons. As a result, Tax Administration Jamaica (TAJ) provides relevant guidance through its annual Special Taxpayer Assistance Programme (STAP). This initiative provides hands-on support for taxpayers in meeting their filing obligations. WHAT IS THE SPECIAL TAXPAYER ASSISTANCE PROGRAMME (STAP)? The STAP is an islandwide initiative designed to assist individuals and businesses in preparing and submitting their annual tax returns accurately and on time. The programme is especially beneficial for self-employed individuals, small business owners, pensioners, and other taxpayers earning less than $10 million annually, who may require additional guidance in navigating the tax system. TAJ deploys trained tax professionals across the island to designated locations; these professionals provide free guidance on how to complete tax forms and file online through TAJ’s Revenue Administration Information System (RAIS) e-Services portal. KEY FEATURES AND BENEFITS OF STAP 1. Tax officers provide one-on-one support, ensuring that taxpayers understand how to complete their tax returns correctly. 2. Taxpayers are taught how to use TAJ’s online platform to file returns, as required. 3. The programme helps taxpayers avoid penalties and interest by ensuring timely and accurate submissions. 4. Assistance is offered at various community hubs, making it accessible to a wide range of taxpayers. 5. Taxpayers receive up-to-date information on tax changes, incentives, and allowable deductions. WHO CAN BENEFIT? Self-employed individuals – Including sole traders, freelancers, and professionals. Micro, small & medium enterprises (MSMEs) – Business owners looking for clarity on tax compliance. Pensioners & other individuals – Especially those with additional sources of taxable income. Any taxpayer needing assistance – anyone who requires guidance on completing their returns correctly. HOW TO ACCESS THE PROGRAMME Taxpayers can visit TAJ’s website at www. jamaicatax.gov.jm to find STAP locations and schedules. Additionally, they can contact TAJ’s customer service for further assistance. Partnership TAJ also engages various organisations by conducting customised STAP sessions with their relevant members. These tailored sessions are designed to meet the unique needs of various taxpayer groups, including small business owners, professionals, and corporate entities, ensuring they receive targeted guidance with filing their returns. By collaborating with these organisations, TAJ enhances taxpayer awareness and fosters voluntary compliance, ultimately contributing to improved revenue collection. THE IMPORTANCE OF FILING ON TIME Filing annual returns on time is crucial to maintaining good standing with the tax authority. Late submissions can result in penalties, interest charges, and possible legal action. The STAP is a valuable resource to ensure compliance, while making the process easier for all taxpayers. By leveraging the Special Taxpayer Assistance Programme, taxpayers can fulfil their tax obligations with confidence and ease. TAJ remains committed to simplifying the tax process and promoting voluntary compliance through ongoing education and support initiatives. For more information, taxpayers are encouraged to contact TAJ’s Customer Care Centre at 888-TAX-HELP (888-829-4357) or visit their nearest Tax Office.
jamaica-gleaner.comRkJQdWJsaXNoZXIy MTUzNTI=