GCT Deadlines and Changes

Staying on top of General Consumption Tax (GCT) requirements is essential for any Jamaican business. Whether you’re a sole trader, small business, or growing enterprise, missing a deadline or misunderstanding a rule can quickly lead to penalties. Here’s a quick guide to what you should know about GCT deadlines and recent updates.

GCT Filing Deadlines

GCT returns are due on the last working day of each month for the previous month’s activity. For example, your January GCT return is due at the end of February.
Late filing attracts penalties and interest, so it’s important to file even if you had zero activity.

Recent GCT Changes You Should Know

In the past few years, there have been updates around:

1. Threshold adjustments for GCT registration
2. New exemptions for specific industries or items
3. Digital filing improvements through the TAJ portal
4. Changes to refund processing times

These changes can affect both your pricing and your cash flow, so staying informed is essential.

How Fedha Books Helps

Our automated tracking tools remind you of upcoming deadlines, categorise your taxable sales and purchases, and help you stay compliant — without the stress.

PAYE / NIS / NHT Reminders

If you have employees, statutory deductions are a non-negotiable part of running your business. PAYE, NIS, NHT, and other payroll-related payments must be filed and paid on time. Here’s what every employer should keep in mind.

Monthly Payroll Filing Deadlines

All payroll deductions — including PAYE, NIS, NHT, and Education Tax — must be submitted by the 14th of the following month.
Missing this deadline can lead to penalties and interest.

What You Must Submit Each Month

Your monthly payroll submission generally includes:

1. PAYE (Pay As You Earn)
2. NIS (National Insurance Scheme)
3. NHT (National Housing Trust)
4. Education Tax
5. HEART Contributions, where applicable

Even if your employee count changes or hours fluctuate, your filings must reflect accurate details.

Common Employer Mistakes

1. Forgetting to update salary changes
2. Miscalculating contributions
3. Missing filing deadlines
4. Submitting incomplete or outdated employee information

How Fedha Books Helps

Fedha Books keeps track of deadlines, organizes payroll data, and ensures your monthly submissions are consistent, accurate, and on time — all with automated reminders.

Corporate Tax Basics for SMEs

Corporate taxes can feel overwhelming, especially for small and medium-sized businesses that are juggling daily operations. Understanding the basics ensures you remain compliant and avoid unnecessary fines.

What Is Corporate Tax?

Corporate income tax is applied to the profits your business earns. In Jamaica:

1. The standard corporate tax rate is 25%.
2. Regulated companies, such as financial institutions, may face different rates.

Who Must File Corporate Tax?

All incorporated businesses — including companies registered under the Companies Act — must:

1. File an annual return
2. Submit audited or certified financial statements, depending on size
3. Report income, expenses, assets, and liabilities

Key Corporate Tax Responsibilities

1. Annual Income Tax Return (Due March 15 each year)
2. Estimated Tax Payments (Paid quarterly)
3. Proper recordkeeping — invoices, receipts, payroll records, and more

Why SMEs Struggle

Many small businesses struggle because:

1. They don’t track finances throughout the year
2. They wait until tax season to organize accounting
3. They lack clarity on deductions and allowable expenses

How Fedha Books Supports SMEs

With automated bookkeeping, real-time financial reports, and CPA oversight, Fedha Books helps SMEs stay organized all year long — making corporate tax filing smoother, faster, and stress-free.