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A Tax Compliance Certificate (TCC) is a document that is issued to individuals or businesses to prove that they are tax compliant. You can use the document for various reasons, such as customs clearance of goods, submitting proposals to the Sugar Industry Authority, etc. In this article, we'll take a look at what TCCs are, and why you may need one. Tax Compliance Certificates are issued to individuals or companies A Tax Compliance Certificate (TCC) is a legal proof that a company or individual has been tax compliant in Jamaica. The TCC is issued by the Tax Administration Jamaica (TAJ),…

Calculator The calculator for Jamaica Statutory Deductions helps you figure out the amount of tax that should be deducted from each income. This tax is imposed on certain goods and services, such as imports and manufactured goods. It also calculates the amount of money that is due for benefits and statutory deductions. These amounts are calculated on a weekly, fortnightly, or monthly basis. The calculator takes into account the number of employees and the type of wages paid. There are different features on the calculator that can help you find the right figures for your statutory deductions in Jamaica. For…

If you are an entrepreneur or business owner in Jamaica, you need to know how to file a GCT Return. This tax is collected on a variety of products and services that are imported and sold in the country. You should know that it is 5% of the price of the goods and services imported into the country. However, you may be able to claim GCT credits on some of the imported goods and services. There are some conditions that must be met before you can claim a credit for GCT. Consumption tax The General Consumption Tax (GCT) is a…

The Public Accountancy Board is a professional body for accountants in Jamaica. Its members adhere to a code of professional standards issued by the International Federation of Accountants. The Board oversees the profession and promotes high-quality professional standards. The board also promotes professionalism through its Code of Ethics for Members. Accounting standards committee The Accounting Standards Committee of the Jamaica Public Accountancy Board (ICAJ) has jurisdiction over accounting standards in the country. It shares responsibility with the Public Accountancy Board for quality assurance reviews, investigations, ethics, and continuing professional development for Public Accountants. The ICAJ has been around since 1968…