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Finance and Planning Minister, Dr. Omar Davies, has said that during this financial year, the government would be re-doubling its efforts to bring more persons under the tax net. Dr. Davies, who was speaking during yesterday's (April 12) opening of the 2007/08 Budget Debate in the House of Representatives, said that as part of the efforts, the Financial Secretary would...

Beginning June 1, an amount not exceeding $1.5 million of verified Customs User Fee (CUF) payments per firm, will be charged as allowed expenses under the Income Tax Act, when companies are making annual returns. This is part of Government's efforts to alleviate the negative effect of CUF on companies' operations, Minister of Finance and Planning, Dr. Omar Davies said...

Minister of Finance and Planning, Dr. Omar Davies emphasized yesterday (April 12), that the Government has presented a budget, which called for expenditure to be the same in nominal terms as the previous fiscal year. This, he said, represented a cut in real terms, which was "virtually unheard of." Dr. Davies was opening the 2007/08 Budget Debate in the House...

Poverty decreased marginally last year to 14.3 per cent, which is 0.5 per cent decline over the figure for 2005. Minister of Finance and Planning, Dr. Omar Davies, made the announcement as he opened the 2007/08 Budget Debate in the House of Representatives yesterday (April 12). Giving a breakdown of the figures by region, he said that poverty in the...

Government intends to continue to improve the work of the Child Development Agency (CDA) this fiscal year, through the establishment of the Children's Registrar and the employment of a number of key personnel. "The Children's Registrar will be an independent body established under the Child Care and Protection Act. It will receive and record all reports of abuse, infringement or...

Finance and Planning Minister, Dr. Omar Davies has said that during this fiscal year, the Government intends to consolidate payroll deductions and rationalize the structure of these deductions, so that more resources could be allocated to certain sectors. Making his contribution to the opening of the 2007/08 Budget Debate in the House, yesterday (April 12), Dr. Davies said that, "virtually...

Effective July 1 this year, each deposit in a licensed deposit-taking institution will be covered to the level of $600,000. This was announced by the Minister of Finance and Planning, Dr. Omar Davies, yesterday (April 12), when he opened the 2007/08 Budget Debate in the House of Representatives. "From time to time, the Jamaica Deposit Insurance Corporation (JDIC) has assessed...

Minister of Finance and Planning, Dr. Omar Davies, has defended the $89 billion set aside in the budget for wages and salaries, noting that the intention was to ensure social stability and retain quality professionals in the public sector. Dr. Davies, who was opening the 2007/08 Budget Debate in the House of Representatives yesterday (April 12), said that while the...

There is a new allocation in the budget for payment to the Caribbean Catastrophe Risk Insurance Facility (CCRIF), which provides coverage against hurricanes and earthquakes. Eighteen Caribbean countries will be covered under the facility and they will be able to draw on funds if hit by hurricane or earthquake. The facility will become operational in time for the hurricane season...

Banana farmers in Portland have been encouraged to support the Banana Rehabilitation Fund, which was established to assist with the rehabilitation of the industry after hurricanes and other acts of nature. The call has come from Vincent Thompson, Project Manager of the Banana Investment Programme (BIP), while addressing a meeting held at the Boundbrook Wharf in Port Antonio on April...

Finance and Planning Minister, Dr. Omar Davies, has announced a 20 per cent increase in the Special Consumption Tax (SCT) on cigarettes, and an Environmental Levy equivalent to 0.5 per cent of the Cost, Insurance and Freight (CIF) value of all imported goods, through which government expects to earn $1.7 billion this fiscal year. The levy on cigarettes, which takes...

Prime Minister Portia Simpson Miller has said that residents of St. Thomas should be involved in talks about the new Yallahs bridge. She said the residents should be properly informed in all matters relating to the construction of the bridge, which is scheduled to begin shortly. Mrs. Simpson Miller issued the charge on April 11, at a contract signing for...