The Tax Compliance Certificate (TCC) tends to be a gray area for small business owners in Jamaica. You know that paying taxes is important and you want to be tax compliant but how does the TCC fit into this picture? This article helps clear up this fuzzy area. If you want to learn more about starting a business in Jamaica, and the taxes involved, order your copy of “The Business Playbook: A Guide for Jamaican Startups”.
What is a Tax Compliance Certificate (TCC)?
The TCC is proof that your taxes and statutory deductions are up-to-date and that your business is tax compliant. It shows that you are following local tax rules by declaring income, filing a return and paying taxes on time. The Tax Association of Jamaica (TAJ) is the organization authorized to issue these certificates.
Who Should Get a TCC?
You should get a TCC for your business if it falls into one or more of these categories:
- Registered sole proprietorship with no record of filed taxes
- Customs Brokers License applicants
- Quarrying License applicants
- Betting Gaming and Lotteries License applicants
- Person’s applying for citizenship or a work permit
- Security Firm applicants
- Companies applying for contracts from the government
- Importers who need to submit an import entry to clear goods through customs
What is the TCC Application Process?
It is always best to speak with a TAJ representative before registering for a TCC. Members of the Compliance Department at all the tax offices are always willing to provide the necessary guidance to ensure that you complete the process correctly. Take these documents with you when you are going to speak with someone at your local Tax Compliance Department:
- Original receipts (and copies) that show proof
of payment of the following since January of the current year:
- P.A.Y.E. (Income Tax and Education Tax)
- Company/Individual Income Tax
- Education Tax (Sole proprietors)
- H.E.A.R.T contributions
- N.H.T contributions
- N.I.S. contributions
- Clearance letters from N.H.T., H.E.A.R.T and N.I.S. The TAJ will also provide a compliance letter once approved.
- Tax Registration Number (T.R.N.)
- Certified copies of arrangements to pay
How Often Should the TCC Be Renewed?
The TCC should be renewed every three to six months.
Get Your Taxes in Order!
Tax compliance is important for building a business in Jamaica the right way. The TCC is a good way to prove that both you and your business are tax compliant. You can learn more about other important tax considerations for your business in Jamaica by ordering a copy of our book “The Business Playbook: A Guide for Jamaican Startups”.