Does this apply to you?

Do you know what is required to make you compliant?

As a professional/self-employed person do you know:

• What taxes apply to you?
• Frequency of remittances and returns?
• Where taxes and fees are paid?
• Taxes are due on your world income?
• Penalty and interest for late payments and which taxes attract them?
• What benefits and allowances apply to you?
• How to recover overpayments. What are relevant deadlines?
• When would you need a TCC and how to get one?

Insyte Jamaica Limited offers the opportunity to get updated information at upcoming Seminars on Fri Mar30 or Tue Apr10, between 6:00pm and 8:30pm at the Hotel Four Seasons, 18 Ruthven Road, Kingston 10. Cost $3,500. Refreshments will be served.

Our business includes training, accounting, business services and tax consultancy. We can prepare and file your returns for you.

Telephone: Loraine Amitirigala 927-7620/ 819-9429/ 399-2817

Email: loraine@insyteja.com

Telephone: Michael Brooks 773-9401, 906-3801

Email: dominic_michael@hotmail.com

Presentation Summary:

• Registration requirements
• Compliance requirements
• Benefits of Compliance
• Cost of Non-Compliance

Get informed!!

Don’t be like the client who claimed that he could not pay $7,500.00 for a one-day Seminar and ended up overpaying taxes by $67,000.00 for one employee in one year (which he cannot recover).

Get your registration form here.

Course Outline – Levels 1-3

Presentation Summary – Level 1 ($15,500) – 2 Days

1. Determination of total cost of employment
2. Contracts – 3 types
3. Payroll Laws
4. Emoluments

• Taxable
• Non-taxable
• Exemptions and Special Cases

5. Maternity Leave Act
6. Pension (including Independent Retirement Plans)
7. Payroll Calculation – Progressive Taxation

Presentation Summary – Level 2 ($17,500) – 2 Days
1. Income Tax Act (cont’d)

• Special Cases cont’d
• PAYE Audits, Interest & Penalty
• Pensioners – residents and non-residents

2. NIS Act
3. Education Tax Act
4. HEART Act
5. Payroll Remittances & Returns

Presentation Summary – Level 3 ($25,500) – 2 Days

• Income Tax Act – Revision, Questions & Answers
• Pension – Finalized
• NHT Act
• Employee Share Ownership Plan (ESOP)
• Labour Relations and Industrial Disputes Act (LRIDA) and Payroll Best Practices
• The Income Tax Act and its application to Individuals and Self-employed
• LRIDA and Payroll Best Practices
• Redundancy Calculation

Get your registration forms here.

Seminars & Workshop Schedule

Payroll Practice & Administration
Seminar March 27 – 1 day ($7,500)
Level 1 March 28-29 – 2 days ($15,500)

Tax Compliance Seminar(TCS)
March 30 – Evening 6-8:30pm $3,500
Level 2 April 17-18 ($17,500)
Level 3 May 16-17 ($17,500)

Do you or your staff understand the difference between using a payroll software and understanding what the software does? The PPA aims to equip you with this knowledge. We empower you!

Because of the knowledge gained by attending the Seminar, you can confidently:

1. negotiate better compensation packages
2. explain payroll computationas required
3. do payroll computations without feeling harassed thereby fostering a more harmonious work environment
4. if error occurs, can quickly identify and correct
5. claim refunds  because you know the procedures

Are you jumping yet?

1. stand your ground in dealing with statutory authorities, the staff of which are often ignorant of the laws and their provisions and procedures for redress – Examples
   1. i.      procedure to claim for overpayment of Education Tax
   2. ii.      did you know that self-employed persons – which you are – are not required by law to make quarterly/interim payments of Income Tax? Does this apply to other forms of Taxes?
2. avoid overpayment of payroll liabilities –  Examples
   1. i.      client unwilling to pay $7,500.00 for Seminar and ended up overpaying statutory liabilities by $67,000.00 which he can’t claim back because his books are not in order. There is a lot of ignorance about the claiming of refunds.
   2. ii.      CEO overpaid taxes by millions of dollars over approximate 3-year period, found out after they left the company

I see you holding back ‘the jump’

Are you aware of how many tax liabilities there are?Do you know about the “Form SO1”? It is designed to catch taxpayers who indulge in part compliance. ICI’s are a great example

Do you know the statute of limitation regarding Tax liabilities? Is it the same for all Tax types?

Did you know that the same Tax laws apply to both employees and self-employed persons? – Are you self-employed?

This programme equips you with the knowledge you need to effectively traverse the sometime perilous waters of payroll administration in Jamaica and isn’t this worth jumping for?

1. Live without the fear of being caught so you canspend more time on other areas of development and pressing, urgent matters in your business, as they arise
2. Avoid assessments and attendant penalties and interest, as high as 50% and  20%  respectively
3. Avoid loss of valuable manpower which results from being dragged through the assessment process
4. Practice better cash management and control because you know the amount and timing of payroll cost (which is one of the largest business expenses of professionals)
5. Avoid the whole question of claiming refunds. Did you know that before a refund is made by the tax authorities they usually conduct a total tax audit – Payroll, Income Tax and GCT.Very few businesses leave that experience not owing the Government money

If you think one or all of these reasons are good reasons and you are still not in compliance with the Jamaica tax law, leave all the fear worry and stress behind. Don’t Wait! Get Help Now! The longer you wait the worst it will get.

Talk to tax professional you can trust and get claiming out of that hole today. You can make it. I believe in you.

1. Non-compliant
2. Under reporting their income thereby not paying the right amount of tax

Long before this declaration, Insyte Jamaica Limited in recognition of this fact, in year 2008, developed and has been presenting a training programme called the Payroll Practice and Administration (PPA) Programme designed to build awareness of the cost/danger of tax evasion. The PPA is in the form of Seminars and Workshops.

Our objective at this meeting is to interest you in supporting this Programme while at the same time avoid the trauma, cost and embarrassment associated with tax audits. Awin/win situation! Support would either be in the form of you attending a half-day Seminar on a Saturday or Sunday, geared only toward the professionals or Seminars that would include staff as well. Normal Seminar fee is $7,500.00per person. Special offer to this group, $3,500 per person!

It is noteworthy that on the occasion of the Budget presentation, Mr. Shaw also announced his intention to immediately establish a hotline to inform on tax dodgers. According to the media, 35 reports were made within the first 2 days.

Presentation Summary

1. Benefits of Compliance
2. Cost of Non-Compliance – Worked example
3. Why you should attend the PPA Seminar
4. Other Insyte Services