Sole Trader NIL Filing
For a sole trader with no income or loss during the year:
Taxpayer Registration Number (TRN) – A valid TRN for the business owner.
Business Registration (if applicable) – Proof of business registration (e.g., certificate of registration from the Companies Office of Jamaica).
NIL Income Statement – A statement declaring that there was no income or business activity for the year.
Personal Identification – A government-issued ID (e.g., passport, driver's license).
P24 from employment during year being filed for. If any).
Company NIL Filing
For a company with no income or loss during the year:
Taxpayer Registration Number (TRN) – A valid TRN for the business and company directors.
Company Registration Documents – Certificate of incorporation and other registration details.
Annual Return Form – Filed with the Companies Office of Jamaica.
NIL Income Statement – A statement declaring that the company had no income or business activity.
Company’s Financial Statements (if applicable) – Even if no income, these may still need to be filed for record purposes.
Actual Filing (For businesses with income or loss)
For a sole trader or company with income or loss:
Taxpayer Registration Number (TRN) – Valid for both the individual or company.
Financial Statements – Income statement, balance sheet, and other relevant documents for the year.
Bank Statements – To provide proof of income or expenses.
Supporting Documents – Invoices, receipts, contracts, and other relevant financial documents.
Proof of Payments – Any tax payments or remittances made throughout the year.
Key Differences Between NIL Filing and Actual Filing:
NIL Filing: Only requires a simple declaration of no income or loss with minimal documentation (TRN, NIL income statement, and tax return).
Actual Filing: Requires detailed financial documentation, including financial statements, bank records, and proof of income or expenses.