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Tattoo
Member posted on Friday, November 06, 2009 - 10:54 am
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Post Number: 105
Registered: 10-2009
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| Ok if you have a business in Jamaica what are the tax's?, how are they collected ? And who collects them? The cop's? A tax collector who?. Peace. |
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Rastagirl777
Member posted on Friday, November 06, 2009 - 11:48 am
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Post Number: 1148
Registered: 02-2008
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Lots of taxes. Lots of paperwork. Lots of pipers to pay.
http://nikkikamens.squarespace.com
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CharlesJAB
Member posted on Friday, November 06, 2009 - 04:30 pm
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Post Number: 106
Registered: 08-2009
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So much cash business down there I'm sure it's hard to find every penny earned during the year.
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Jamaicalady
Member posted on Saturday, November 07, 2009 - 06:02 pm
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Post Number: 98
Registered: 05-2008
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Oh Gees you guys, we are actually very modern here. Taxes are paid just like in the states. I have all our Government, payroll, etc. on excel and once you know Jamaica's taxes areas for deductions, e.g. Pay as you earn (PAYE), National Housing Trust (NHT), NIS (like our Social Security) Education Tax, and Heart, its really no
different. The government has assigned percentages that we use. We pay payroll weekly and we pay Government Tax Quarterly. You pay it at any Jamaican Tax Revenue Office. It's really not a whole lot more if any than in the states. Right now the government dropped the PAYE Tax (which is like Fed. Tax for employee and employer) way down thus making the tax bracket so low that the employees that make such low wages are hardly charged any taxes right now. But I think they did it to help during off season because salaries get cut back so drastically. It will go back up. You pay taxes on you salary and payroll as you earn (PAYE Tax). You don't wait until the end of the year to pay as most in the states do. There's not much deductions that the average Jamaican can claim. Business have their standard deductions and can claim the GCT ( Government tax) on the operations and upkeep of the business. Now for a foreigner to open a business and go through all the hoops, will cost a pretty penny before they can ring the bells and even get to the point to pay taxes on their business. It took me 5 and 1/2 years just to get permanent residency, but when I did ~ was it ever SWEET!!
Make Love Not War
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