Tax Administration Jamaica is reporting nominal improvements in several key areas of its revenue and compliance operations.
The data was included in the recently published Interim Report, tabled by outgoing Finance and Planning Minister Dr. Nigel Clarke.
The report also pointed to significant improvements in enforcement action and arrears collected by TAJ
Results of the compliance programme revealed that a 1.2 per cent increase in the nation's taxpayer population, moving from approximately 295,000 to near 298,000 during the first quarter of 2024.
On-time filing rate improved from 62 per cent to 63 per cent over the same period last fiscal year, reportedly influenced by an increase across all taxpayer segments for PAYE.
Regarding the stock of arrears, approximately 22 per cent of targeted arrears were collected by TAJ, which was $10.9 billion of $50 billion.
TAJ reported that enforcement action accounted for $7. 6 billion or approximately 70 per cent of arrears collected.
However, the stock of arrears increased by $6.3 billion, moving from approximately $230. 8 billion at the start of the fiscal year, to $237.1 billion.
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