Success Lifestyle Magazine Issue 9 June 2021 | Page 6

Tips for Filing Taxes in Jamaica
Camile Clarke
Entrepreneurs , especially those with a limited background in accounting , often go nuts at the thought of having to file taxes . Therefore , accountants provide an essential service to businesses .
An accountant ’ s involvement at all stages of your entrepreneurial journey can contribute to the success and growth of your business .
Shana Spencer , Director of Knowledge Base Accounting and Consulting , shared some tips with me about filing business taxes in Jamaica .
You may have some basic knowledge about accounting and filing taxes , but focusing on the daily operations of your business takes your attention away from the intricacies of proper bookkeeping and tax filing . The tax filing process isn ’ t something that should be taken lightly .
These tips will help you better understand how to file taxes , avoid mistakes when including expenses , and determine when GCT filings are necessary . It ’ s your national duty to pay taxes . Not only does filing taxes help you legally operate your business , but it also supports Jamaica ’ s growth .
Issue 9 : June 2021