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Jamaica: Corporate Property Tax Collection Up In Jamaica

Monday, 19 August 2013   (0 Comments)
Posted by: Author: Mike Godfrey
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Author: Mike Godfrey

Jamaica's corporate property tax collection in Kingston has risen by 169 percent since April 01 this year, when compared to the figure for the corresponding period last year.

This was disclosed by Mayor of Kingston, Senator Councillor Angela Brown Burke, during the Kingston and St. Andrew Corporation (KSAC) Council meeting on August 13.

"Yes, we know that the rates were increased, yes we know that there are some individuals who have been finding it difficult (to pay), but we have been operating a (Parish) Discretionary Relief Committee, where individuals can apply (for relief), and we have been granting those waivers,” the Mayor said.

She noted that property taxes are mainly used for the maintenance of community amenities, adding that "persons who are paying their taxes, need to see their tax dollars in action.”

With regard to trade licences, the Mayor said that the figure, when compared to last year, represents an 89 percent increase, and for signs and billboards, there has been a 41 percent reduction in the figure, when compared to the corresponding period last year.

The Mayor pointed out that targets have been set for the 2013/14 fiscal year, and a compliance team has once again been deployed to focus on issues of enforcement and revenue generation.

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Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

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