Preparing Monthly GCT using MBPOS Reports
The standard rate of GCT is currently 15%; however, higher or lower rates of GCT are applicable to certain goods and services.
The General Consumption Tax Act requires businesses in Jamaica to:
Apply for Registration at the Companies Office Of Jamaica or Tax
Administration Jamaica (29 tax offices island wide).
Upon Registration, Charge and Collect tax at the specified rate on
appropriate goods and services.
Calculate net tax due for each taxable period (one month) (Returns
must be filed even when tax payable is nil).
Pay the net GCT collected to the Tax Offices (Tax Administration
Jamaica) by the last working day of the month following the month in
which the tax was collected.
Who is required to register? All persons engaged in taxable activities are
required to register under the GCT Act.
Who is a “Person”? For the purposes of the GCT, a “Person” is:
A Partnership (including an unincorporated body, a joint venture, or
trustees of a trust)
What is a Taxable Activity? An activity is taxable if it is
In the form of business, trade, profession, vocation, association or club
Carried out continuously or regularly
For profit or not for profit
Intended to involve, or involves, the sale/supply of goods or services
Not specifically exempt under the Act
Who is exempt from GCT registration?
Anyone who is engaged solely in one or more of the following does not
have to register for GCT:
Any activity carried out essentially as a private recreational pursuit
Any engagement (i.e employment), occupation or employment
under any contract of services or as a director of a company,
The supply of goods or services which are exempt from the GCT.
What are the benefits of being a registered taxpayer?
When a person registers as a taxpayer he will enjoy the following benefits
under the GCT act:
Input Tax Credit – He will be able to claim a credit for GCT paid on his
business purchases (Input Tax), whenever he supplies taxable goods or
GCT credits for Customers – Only registered taxpayers can issue tax
invoices to customers who are also registered taxpayers so that these
customers will be able to claim an Input Tax Credit for purchases made.
How do I register?
You must have a valid Taxpayer Registration Number (TRN)
Complete the ‘Super Form’ at the Companies Office of Jamaica or a
GCT form at the Tax Office.
FOR MORE INFORMATION: Call 1- 888 - TAX - HELP (829- 4357) or 1- 888 - GO-JA-TAX (465-2829)/ Website: www.jamaicatax.gov.jm
Facebook:www.facebook.com/jamaicatax Twitter: @jamaicatax or visit the Tax Office nearest you.
Steps to run GCT Report from MBPOS
1. Login to your POS at MicroBookspos.com
2. Go to Reports > Tax Reports
3. Select Dates using the date picker
4. Print or Save Input Tax Schedule, Output Tax Schedule and Expense Tax Schedule.
5. You will also need you total sales for the period. you may use the total sales from you Profit /Loss Report under reports.
6. You may now go to https://www.jamaicatax.gov.jm/web/guest/home to login and file your GCT.