Please be reminded that Environmental Protection Levy (EPL) Returns are now due for manufactured goods and goods imported from CARICOM (i.e., with the exception of food production for immediate consumption)..Please note that if the EPL is included in the price of the product, GCT becomes payable on the full selling price including the EPL.
I have attached some useful reading material on TAJ recent Updates and you will notice that online filing are required for additional services including monthly SO1 filing.
Please note that the introduction or RAiS will require taxpayer's to be more vigilant about record-keeping, accuracy, timely payments and reporting as the system is designed to immediately identify anomalies and impose onerous interest and penalties and trigger audits and investigations..
As part of our tax management and tax risk assessment process we ask that you insist on getting periodic statements from major suppliers and ensure that all import documents and any dealings with government, insurance companies etc. are accurately recorded and source records kept, as the TAJ has advanced their third party verification process and we want to ensure that the risk of penalty for our clients is very low.
Joan Dallas
Managing Director/CEO