The S01 Is Not Just a Payroll Form. It Is a Monthly Test of Your Internal Controls
The S01 Is Not Just a Payroll Form. It Is a Monthly Test of Your Internal Controls Jamaica’s S01 payroll return should matter to CEOs and CFOs. Discover what monthly statutory filings reveal about payroll controls and compliance risk. There is a dangerous phrase sometimes heard in business: “Payroll handles that.” Payroll may process it. […]
Your IT07 Is a Tax Form, But It Is Also a Test of Your Forecasting
Your IT07 Is a Tax Form, But It Is Also a Test of Your Forecasting Jamaica’s IT07 estimated corporate income tax return can reveal weaknesses in forecasting, budgeting and cash planning. Here is what business leaders should watch. Forecasting a company’s profit is a little like looking at a hurricane track five days before landfall. […]
Your IT02 Tells TAJ a Story About Your Business. Is It the Same Story Your Accounts Tell?
Your IT02 Tells TAJ a Story About Your Business. Is It the Same Story Your Accounts Tell? The IT02 is more than Jamaica’s corporate income tax return. Here is what CEOs, CFOs and boards should know about the financial story their company files with TAJ. A company’s annual tax return is a little like its […]
Key Tax and Statutory Filing Deadlines for Businesses in Jamaica
Key Tax and Statutory Filing Deadlines for Businesses in Jamaica Missing a filing deadline can expose a business to penalties, interest and unnecessary compliance problems. Jamaica does not have one universal business filing date. Some obligations are monthly, others are quarterly or annual, while Companies Office filings are linked to each company’s return date. This […]
Accounting Is an Investment, Not an Expense: Why Medium to Large Companies Should Consider Outsourcing It
Accounting Is an Investment, Not an Expense: Why Medium to Large Companies Should Consider Outsourcing It Many companies treat accounting as a necessary cost, something required for tax filings, payroll, audits and year-end financial statements. That view misses its larger purpose. For a medium to large company, accounting supports sound decisions, protects assets and keeps […]
How to Register a Company in Jamaica When You Are Not Jamaican
How to Register a Company in Jamaica When You Are Not Jamaican Jamaica continues to attract interest from overseas investors, returning residents, regional entrepreneurs, consultants, creatives, and professionals who see the island as a serious place to do business. The opportunity is real. Jamaica has a recognised legal system, a growing digital business environment, access […]
Tax Money Is Not Working Capital: A Costly Mistake Jamaican Businesses Must Stop Making
Tax Money Is Not Working Capital: A Costly Mistake Jamaican Businesses Must Stop Making A finance manager once described tax season in a way that many business owners would understand: “The money was there until we remembered it was not ours.” That sentence captures one of the most common cash flow problems in business. The […]
Profit Is Not Cash: Why High-Revenue Jamaican Companies Still Run Into Financial Trouble
Profit Is Not Cash: Why High-Revenue Jamaican Companies Still Run Into Financial Trouble A company can cross J$250 million in annual revenue and still feel strangely tight on cash. That surprises many business owners and executives. After all, revenue is healthy. The brand is known. The company may have loyal customers, active contracts, and a […]
Can a Business Thrive if Leadership Does Not Understand Accounting?
Can a Business Thrive if Leadership Does Not Understand Accounting? A business can survive for a time without leadership fully understanding accounting. It may even appear to be doing well. Sales may be increasing, customers may be loyal, staff may be busy, and the bank account may show movement. But thriving is different. For Jamaican […]
IFRS 18 in Jamaica: What Business Leaders Should Know Before 2027
IFRS 18 in Jamaica: What Business Leaders Should Know Before 2027 Most business leaders do not spend their day thinking about accounting standards, and they should not have to. Their focus is usually on growth, cash flow, customers, staff, financing, contracts, and keeping the business moving. But every so often, an accounting change comes along […]