Twenty local financial institutions are yet to submit reports to Tax Administration Jamaica (TAJ) regarding their Foreign Account Tax Compliance (FATCA) obligations.
The reports, which are for the calendar year 2015, should have been submitted by the end of May.
TAJ had, however, extended that reporting timeline to July 22, which is this Friday, and is urging the financial institutions to comply with that deadline.
It says failure to report by Friday will see penalties being applied to the institutions.
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