MSME Alliance Welcomes TAJ’s Special Arrears Settlement Programme

The Micro, Small, and Medium Enterprises, MSME, Alliance is commending Tax Administration Jamaica,TAJ, for the introduction of the Special Arrears Settlement Programme.

Under the programme, all interest, penalties, and surcharges for late tax filing and late tax payment will be automatically waived once taxpayers settle the principal amount of their outstanding taxes.

The initiative applies to several types of taxes including pay as you earn, PAYE, corporate income tax, education tax, and general consumption tax, GCT.

According to the MSME Alliance, the initiative is a significant step toward assisting delinquent taxpayers and promoting compliance, while also demonstrating the TAJ’s commitment to flexibility and partnership with the business community.

Meanwhile, the MSME Alliance is encouraging all micro, small, and medium enterprises that have outstanding tax principal and tax filing to seize the opportunity before the deadline of March 31, 2025.

In applauding the efforts of the TAJ and the Ministry of Finance, the MSME alliance says the entities are making tax compliance more accessible.