Services

Self-assessment

Self-assessment for individuals and partnerships has brought increased burdens on all taxpayers as it is now your legal obligation to meet the deadlines imposed by the legislation in order to avoid unnecessary fines and interest charges.

Income Tax

Whether you are an employer or an employee, find out how you are affected by 2014/15 changes to the Income Tax Act and other similar legislations. Business Pro Limited trained experts can also advise you on the latest Company Tax, Benefits in Kind and Mileage and travelling Allowance rates while our Business Pro Limited Payroll team can even handle all your PAYE and payroll requirements, ensuring that your payments are accurate and on time.

Company Tax, The Minimum Business Tax, Personal and small Business Income Tax

The minimization of a company's or individual tax liabilities can help maximize the amount of funds available to reinvest in the business or to return to the shareholders. At Business Pro Limited, we have a range of services to help you cope with increasingly complex Tax legislation together with a full tax planning service including:

Minimum Business Tax (MBT)

Almost two years after it was first proposed by the government, the annual $60,000 Minimum Business Tax (MBT) regime came into effect on April 1, 2014. The Provisional Collection of Tax (Minimum Business Tax) Order, 2014, which was issued on March 31, 2014, imposes the MBT on certain companies and individuals in business. Contact a Business Pro Limited tax advisor for more information.

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Custom Tariffs and Duties

Some of the key features of the Customs Tariff Resolution are as follows:

• Customs duty of 5 percent is imposed on more than 460 categories, including many agricultural products, that used to be free of customs duty;
• Customs duty is reduced (mostly by about 5 percentage points) in the case of approximately 100 categories, many in the jewelry and auto parts sectors;

Contact us for more information on Customs Duties, Tariffs and other charges including a customs assessment etc.

Taxpayer Appeals Department

The House of Representatives in 2002 passed a resolution to amend the revenue administrations act to allow taxpayers who are dissatisfied with the decision of revenue commissioners to make appeals to the Taxpayer Appeals Department (TAD). Taxpayers have a thirty (30) day window to make such appeals generally, but taxpayers may appeal after this period in certain circumstances. Contact a Business Pro Limited tax expert today to take you through this tedious process.

Capital Allowances on Property, Plant and Equipment

Capital Allowances continue to offer legitimate, yet under-exploited opportunities to reduce tax liabilities for a wide range of capital expenditure in relation to property, plant and equipment. This capital allowances regime is legislated by Tax Administration Jamaica and is an entitlement too valuable to be overlooked.

GCT

General Consumption Tax is one of the most complex and onerous tax regimes imposed on business - so complex that many businesses inadvertently overpay or underpay GCT. This is complicated further by different GCT rates, exemptions, and Zero rated products and services. This complexity means that valuable in-house resources could be deployed elsewhere in the business.

Tax Enquiries/ Audits and Assessments

Any client can be selected for enquiry by Tax Administration Jamaica. With recent powers granted to the commissioner general of Tax Administration Jamaica all businesses are at risk of tax enquiry/investigation. Let the tax experts handle the matter on your behalf. Tax Audits are serious enquires that need serious expertise which Business Pro Limited Accountants has.

Tax Investigation Service

With Tax Administration Jamaica becoming increasingly aggressive in their approach to raising tax revenues, many clients like the peace of mind that, should they receive notification that their affairs are to be investigated, any time we spend on supporting the investigation, is paid for.