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Jamaica To Enforce Greater Tax Compliance

by Mike Godfrey, Tax-News.com, New York

15 January 2014


The Jamaican government has announced its intention to enforce greater tax compliance through amendments to the law and tough penalties for those who violate the Revenue Administration Act.

The government will phase in amendments to the Revenue Administration Act of 2013 requiring businesses in certain sectors to provide information about their depositors, independent contractors, suppliers and business customers starting in April 2014.

According to the Tax Administration of Jamaica (TAJ), the amendments are intended to broaden the tax net and make it easier to detect cases of under-reporting.

Meris Haughton, director of communications at TAJ, told local newspaper The Jamaica Gleaner: "One of the challenges which we are having, particularly with some groups, we are not able to determine what the true picture of their income is from particular sources. With the information which we will now be able to garner from third-party sources, we will now be able to do a risk assessment to determine if persons are actually submitting a full and fair report of their income."

TAJ also warned that those who do not comply with legal requests for third-party information may face a 10-year jail sentence as well as a fine.

TAGS: compliance | tax | business | tax compliance | law | Jamaica | contractors | penalties | Tax

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