Enhancement to the application process for approval of the use of a Permitted Accounting Period (PAP)

Tax Administration Jamaica (TAJ) is advising that effective Monday, September 13, 2021, it will become mandatory for persons who make a request for approval for the use of a Permitted Accounting Period, that all such applications must be made online using their TAJ Eservice facility at www.jamaicatax.gov.jm by completing the prescribed form designed for that purpose.  

For Income Tax purposes, any taxpayer who proposes to change his accounting year end shall, before using the new period, comply with the provisions of the Income Tax Act relating to a permitted accounting period, by securing the approval of the Commissioner General to change the accounting year end to a date other than the 31st day of December. 

Guidance is provided to persons requesting approval for the use of a permitted accounting period (i.e. a period other than year ending December 31st). Persons will be able to access the “Request Permitted Accounting Period Approval via eServices”, which may be found under the “How To” Tab on the homepage of the Tax Authority’s website www.jamaicatax.gov.jm. Also information can be gathered from our ‘Updated Practice Note- Permitted Accounting Period’ dated September 1, 2021. Additionally, members of the Technical Specialist Unit are available for consultations with stakeholders to navigate the changes. 

The PAP request must be submitted not less than sixty (60) working days before the beginning of the proposed new accounting period. Any taxpayer whose application is submitted less than 60 working days before the start of the proposed new accounting period may have their request denied. The taxpayer may be asked to continue using the existing accounting period and make a resubmission for a permitted accounting period in keeping with the required time frame given.  

The Commissioner General, Tax Administration Jamaica will no longer be accepting manual applications at any of its 28 Tax locations island wide nor at its Technical Specialist Unit located at 12 Ocean Boulevard Kingston or its Corporate Offices located at 116 East Street Kingston. 

Interested persons may visit the TAJ Tax Portal at www.jamaicatax.gov.jm or contact the TAJ Customer Care Centre at 888-TAX-HELP (888-829-4357), the Technical Specialist Unit at 876-967-0000, their Client Relationship Manager at the Large Taxpayer Office or any Tax Office for further information or guidance.