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.
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