The Government is implementing measures to facilitate increased investments in Jamaica’s renewable energy sector. Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke, said the Income Tax Act will be amended to exclude Independent Power Providers (IPPs) producing energy from renewable sources from the definition of “regulated company” for the purpose of section 30 of the Act. “These...

No new taxes will be introduced to finance the Government’s $1.3-trillion Budget for the upcoming fiscal year. Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, who opened the 2024/25 Budget Debate in the House of Representatives on Tuesday (March 12), said it is the seventh consecutive year in which the Government has introduced no new taxes....

Registration is now open for the third staging of the Public Sector Debate Competition. The event, scheduled to take place between May and July 2024, will engage teams comprising government employees in parliamentary-style debating on matters relating to public-sector transformation and current affairs. Interested ministries, departments and agencies are invited to complete the registration form via the Transformation Implementation Unit...

The Jamaica Data Exchange Platform is in the final stages of development, says Minister without Portfolio in the Office of the Prime Minister, with responsibility for Skills and Digital Transformation, Senator Dr. the Hon. Dana Morris Dixon. “As banks try to put more products online – account opening and other products that you deliver online – it’s going to be...

The Government is working out arrangements that will enable Jamaica to legally receive just under 50 orphans from Haiti for care by local charity organisation Mustard Seed Communities, in light of ongoing unrest in the neighbouring country. Minister of Foreign Affairs and Foreign Trade, Senator the Hon. Kamina Johnson Smith, provided an update on the matter during Wednesday’s (March 13)...

The Income Tax Act will be amended to increase the maximum participating voting share capital of companies listed on the Junior Stock Exchange from $500 million to $750 million. Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, said the measures are in an effort to further facilitate growth of the micro, small and medium-sized enterprise (MSME)...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says implementation of the reverse tax credit will be done in the 2024/25 fiscal year. Opening the Budget Debate in the House on March 12, Dr. Clarke said the initiative means that every registered taxpayer who earns $3 million or under will benefit from a reverse tax credit...