With the 2025 tax season in full swing, the Jamaica Business Development Corporation (JBDC) is encouraging micro-, small-, and medium-sized enterprises (MSMEs) to adopt digital tools to improve recordkeeping and tax compliance.
Speaking at the JBDC’s Virtual Biz Zone Webinar, Khary Sharpe, founder and CEO of HeadOffice Inc., emphasised that digital solutions can help business owners avoid last-minute stress while ensuring compliance with the Tax Administration of Jamaica (TAJ) requirements.
“Digitally storing your tax records ensures you are always prepared for audits and compliance checks. No more scrambling to find missing receipts or invoices,” Sharpe said.
The webinar, titled ‘Tech Steps for Good Recordkeeping’, is part of JBDC’s Tax Compliance Series, aimed at educating businesses on best practices for tax filing. Sharpe outlined the importance of digital record-keeping, stressing that poor financial management is a major hurdle for small businesses during tax season.
He explained that while the process itself is simple, many business owners fail to track and store key documents properly. “The tech steps are really very easy to do. The challenging part is knowing what to capture,” he said.
To address this, Sharp advised MSMEs to use cloud-based accounting solutions such as Google Drive, Dropbox, OneDrive, or software like Head Office and QuickBooks.
“Use Google Drive, Dropbox, or OneDrive to store documents securely. Not only is it online, but it’s backed up, and you can share files with your bookkeeper or accountant,” he explained.
For businesses that may not be able to afford full accounting software, Sharpe recommended using Microsoft Excel or Google Sheets to maintain basic income and expense tracking.
With March 17, set as the deadline for tax filing, Sharpe emphasised that businesses should ensure their financial records are organised and up-to-date.
Source: Our Today – https://our.today/jbdc-urges-msmes-to-embrace-digital-tools-for-tax-filing-and-recordkeeping/
