October statutory deductions due Monday
Published:Thursday | November 12, 2020 | 9:11 PM
Tax Administration Jamaica (TAJ) is reminding employers that statutory deductions for October are due on Monday November 16, 2020.
The usual due date, the 14th day of the month, falls on the weekend.
TAJ says taxpayers will therefore be allowed to submit their October deductions the following business day, Monday November, 16 without incurring any penalty.
National Commercial Bank (NCB) personal and corporate customers may now opt to make payments, using their NCB eBanking platform by adding TAJ as a payee.
The TAJ says taxpayers may also pay via its website using a credit card or a bank card with credit card features or via BNS automatic direct deposit.
Additionally, employers can benefit from the employment tax credit if they make their payments on time.
The TAJ says eligible employers must file and pay their monthly statutory payroll deductions on time.
These employers may claim the total amount of payroll statutory contributions for Education Tax, NHT, NIS and HEART.
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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