Filing Annual Return Q&A

What is the employer’s annual return (S02)?
The Annual Return is a document, which names the employees for whom statutory deductions have been made over the past calendar year. It states how much each employee has been paid in cash or kind and how much has been deducted from his/her earnings for NHT, NIS, Education Tax and PAYE. The Annual Return (S02) also shows how much your company has paid in wages and deductions for the year.

 

Who should file an Annual Return
Any person or entity, paying emoluments, on his own account or on behalf of another person.

 

What is emolument?
An emolument is any compensation in money or kind. It includes all perquisites and allowances arising from ones office or employment, whether paid to the holder or to his relative or dependent.

 

Why Is The NHT Concerned About Your Annual Return?
Each month, companies are required to file their payroll deductions (S01) with the Tax Administration of Jamaica. These deductions include NHT contributions. The S01 form requires that the company state only how much it has paid out as wages and how much it has deducted for statutory payments. It does not require that the company submit the names of employees on whose behalf the payments are made.

At the end of the year, however, the company must send detailed information to the Tax Administration of Jamaica, in the form of an Annual Return, so that each employee’s NHT account can be credited with his/her contribution. If the Return is not submitted, the NHT cannot identify employees who are entitled to receive mortgage loans or contribution refunds at a later date.

 

If I did not pay over the deductions, should I still submit the Annual Return?
Yes: Employers are required to file monthly returns (S01) and annual returns (S02) whether or not full payment, partial payment or no payment is being made. Penalties are charged for late filing of annual returns. These penalties are separate from interest charges applied for late payment.

 

When is the S01 due?
S01 along with deductions are required to be filed/paid within 14 days of the month following the month in which the deductions were made (for example, the deductions for January should be remitted by the fourteenth of February)

 

When is the Annual Return (S02) due?
The ’ Annual Return (SO2) for the calendar year becomes due January 01 of the following year and should be filed no later than March 31st to Tax Administration Jamaica via on-line filing.

 

How To Submit Your Annual Return
Employers are required to file their annual returns online at www.jamaicatax-online.gov.jm.

 

For more information, visit: https://www.jamaicatax.gov.jm/employer-s-guide/