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Elements of the Tax and Tax Administration Reform package will be incorporated in this year’s budget and will be implemented over a three-year period. This was announced by Finance and Planning Minister, Hon. Dr. Peter Phillips, during his opening presentation of the 2012/13 Budget Debate in the House of Representatives on  May 24. The new measures will include: reducing distortions...

The country must work to reduce its debt, even as negotiations continue on a new standby arrangement with the International Monetary Fund (IMF), said Finance and Planning Minister, Hon. Dr. Peter Phillips. Opening the 2012/13 Budget Debate on Thursday (May 24) in the House of Representatives, the Finance Minister said that as of the close of the 2011/2012 fiscal year,...

A total of 382 teams from communities across the island are competing for $4 million in cash and prizes in the 2012 staging of the Social Development Commission’s (SDC) 20/20 Community Cricket Competition. The tournament began on April 7 with the preliminary rounds, and the teams which compete at the parish and regional levels over five months, with the final...

The Micro, Small and Medium Enterprise (MSME) sector is set to benefit from loans and technical assistance totalling upwards of $3 billion from the Development Bank of Jamaica (DBJ) during the 2012/13 fiscal year, Finance and Planning Minister, Hon. Dr. Peter Phillips, has announced. Making the opening presentation in the 2012/13 Budget Debate in the House of Representatives, on May...

If Jamaica is to get in line with modern economies, the country, in particular its youth must endeavour to seek opportunities online. This is the central theme of the message of World Bank country representative to Jamaica, Giorgio Valentini, for Workers' Week 2012, which comes to an end on May 26. According to Mr. Valentini, Jamaica’s young men and women...

Minister of Finance and Planning, Hon. Dr. Peter Phillips, says Jamaica’s relationship with the International Monetary Fund (IMF) stands at the centre of the country’s economic recovery programme. He said the country’s economic interests, at this time, are best served by entering into an agreement with the IMF covering an extended period of at least three years. The Minister was...

The Caribbean Poison Information Network (CARPIN) will be educating Jamaicans about the impact of poisons, during Poison Prevention Week (PPW), slated for May 27 to June 3, 2012. Themed: ‘Poison Prevention: Safeguarding Yourself’, the week’s activities will encourage Jamaicans to protect themselves and children in their care from toxic substances and plants that can cause harmful effects to the body....

The Government is projecting earnings of $337.9 billion in revenue and grants this financial year. This was revealed by Minister of Finance and Planning, Hon. Dr. Peter Phillips, on Thursday (May 24), as he opened the 2012/13 Budget Debate in Gordon House. Dr. Phillips informed that the figure, which is before tax, represents a 4.9 per cent increase over the...

The Ministry of Finance is in discussions with the Ministry of Education, in order to arrive at an arrangement which will allow books needed for schools to be purchased through the Education Ministry, so that students can get the books without paying the General Consumption Tax (GCT).   This was disclosed by Minister of Finance and Planning, Hon. Dr.  Peter...

Minister of Finance and Planning, Dr. the Hon. Peter Phillips, has informed that the system for granting waivers will be revamped. The Minister made the disclosure as he opened the 2012/13 budget debate on Thursday (May 24) in the House of Representatives. Dr. Phillips said that starting this financial year, all blanket waivers will be cancelled, while waivers to public...

Minster of Finance and Planning, Dr. the Hon. Peter Phillips on Thursday (May 24) announced a raft of tax measures that will raise more than $23.4 billion to fund the gap in the $612.4 billion 2012/13 budget. The Minister, who was opening the 2012/13 budget debate in the House of Representatives, said that a Special Consumption Tax (SCT) will be...

Finance and Planning Minister, Hon. Dr. Peter Phillips, says the Government will be pursuing vigorous implementation of a number of projects, which are expected to yield significant foreign direct investments (FDIs) for Jamaica, during the 2012/13 fiscal year. Chief among these are the North/South Highway link between Angels, St. Catherine and Ocho Rios, St. Ann, and enhancement of the island’s...