Do you pay your taxes?

There is an old saying that says that there are only two absolutes in life, death and taxes. When I was younger I thought getting a pay cheque meant that you received all the money that you earned.

Of course as I grew up and got a job of my own, I found out that you have to pay your taxes from your salary. This means that when you collect your pay you have to remember that the ‘tax man’ has already taken his slice.

In Jamaica, the personal income tax rate is a tax collected from individuals and is imposed on different sources of income like labour, pensions, interest and dividends.

Depending on how much money you make, a certain percentage of the money you make is withheld and sent to the government.

It can be a frustrating experience to see that what may seem as large amounts have been taken from your pay. However, it is important to note why taxes are needed.

Taxes – Why important?

The money you pay in taxes goes many places. In addition to paying the salaries of government workers, your tax dollars also help to support common resources, such as police and firefighters.

Taxes are also used to fund many types of government programs that help the poor and less fortunate, as well as many schools.

The money you pay in taxes goes many places. In addition to paying the salaries of government workers, your tax dollars also help to support common resources, such as police and firefighters.

Tax money also helps to ensure the roads you travel on are safe and well-maintained. I can hear the complaints already about the fact that your road might not have been fixed in a while so why should we continue to pay taxes. The truth is however, that some roads are fixed although there are many roads across the island that are in need of attention.

Taxes are also used to fund many types of government programs that help the elderly, as well as many schools and hospitals.

Paying taxes are a necessary part of our lives. It is hard to know that your tax dollars are hard at work when there is so much to be done to the infrastructure. However, the tax is required by law and failure to comply can lead to fines legal action or lengthy prison sentences.

Some tax dodgers may evade tax collection for a while but eventually they are caught and have to deal with the consequences of their action.

So do you pay your taxes?

Teri Ann Renee Paisley

Gleaner online writer