TAJ further expands Direct Funds Transfer payment option

Tax Administration Jamaica (TAJ) has further expanded its successful Direct Funds Transfer (DFT) payment channel by adding Stamp Duty and Transfer Tax as a payment type and including its Scotia Bank account as a beneficiary account. This means that in addition to the ability to make payments for Payroll Deductions, Income Tax, Consumption Taxes, Trade and Business Licences, as well as several other business related taxes, customers now also have the ability to make Stamp Duty and Transfer Tax payments using the convenient DFT option. Additionally, customers may now opt to transfer sums from their own bank account to either TAJ’s National Commercial Bank or Scotiabank accounts, using ACH or RTGS.

It should be noted that the Direct Funds Transfer (DFT) continues to top all payment options. For the six months, April to September of the fiscal year 2021-22, over J$102B was collected representing 44% of the total tax collected for the period, with the percentage moving from 39% in April to 50% in the month of September and with over 35,000 transactions recorded.

It is expected that this positive trend in the take-up of DFT will continue as added focus is now being placed on encouraging Small and Medium Enterprises (SMEs) to adopt this payment option that is being used primarily by large taxpayers. As such, TAJ is targeting several business organisations that support SMEs, to share detailed information on DFT and other TAJ convenient services available online. So far sessions have been confirmed with the Jamaica Manufacturers and Exporters Association (JMEA) for November 2, 2021, and with the Jamaica Business Development Corporation (JBDC) on November 4, 2021.

This newest addition to the Tax Authority’s payment options was designed to reduce and remove the manual direct banking arrangements which previously existed. It has also improved the ease of doing business with the TAJ, as it continues to re-engineer its business processes to offer a fully automated direct funds transfer solution. An additional benefit to customers utilising the new procedure, is being able to access and print their own official receipts from the TAJ website at www.jamaicatax.gov.jm.  

Customers using the DFT option are required to first generate a Payment Advice on TAJ’s website via their Revenue Administration Information System (RAIS) eService account, which has been enhanced to include a Direct Funds Transfer Number (DFTN). When transferring the funds to either TAJ’s bank accounts the customer must enter the DFTN as the very first item in the particulars/memo field thereby communicating to TAJ the instructions to enable RAIS to automatically generate the receipts for payments, which may then be printed from TAJ’s website by the customer.

In commenting on the DFT option, Elaine M. Bartley, Assistant Financial Controller of Bahia Principe, stated that, “This newly implemented payment process is quick, easy, and very simple. We adore it!” She further explained that, “The DFT truly eliminates the lengthy waiting period of the late receipting process associated with the (previous) direct banking payment option for taxes on eservices, and additionally lowers our company expenses as it is now at our fingertip digitally to print; removing the need for a bearer/courier service to collect such documents from TAJ”.  

Persons may access additional information and details about the Direct Funds Transfer through an Information Hub on TAJ’s website at www.jamaicatax.gov.jm, which includes a brochure, guides, and other useful material. 

Customers are also reminded that they have several other electronic payment options available to them, such as via the TAJ website, using a credit card or other bank card with credit card features; ACH electronic funds transfer for Scotiabank customers; or NCB Online Bill Payment option for customers of NCB.  

For further information and support, customers assigned to the Large Taxpayer Office may contact their Client Relationship Manager. Other customers may contact a Taxpayer Education Officer, the TAJ Customer Care Centre at 888-TAX-HELP (888-829- 4357) or access the relevant “How To” guides on the TAJ website at www.jamaicatax.gov.jm.