The House of Representatives, on Tuesday (December 15), approved measures to designate the services provided by cambios and electronic retail payment providers as financial services under the Banking Services Act. The designation will complement the Bank of Jamaica’s (BOJ) efforts at improving financial services offered to Jamaicans. Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, who...

The Bank of Jamaica (BOJ) is forecasting a $22-billion or 13 per cent increase in total currency to be in circulation for December 2020, relative to November. In a statement on Monday (December 14), the BOJ said the sum projected at the end of December is $190.9 billion, which would be consistent with heightened expenditure associated with the Christmas season,...

Tax Administration Jamaica (TAJ) is reminding business persons that quarterly Income Tax/Statutory Payments are due on December 15, 2020. Additionally, monthly Statutory Deductions are due on December 14 respectively for the following: -Estimated Corporate Income Tax (4th quarter) -Self Employed Statutory Payments (4th quarter) -Statutory Deductions (S01) for November Business persons are being encouraged to use TAJ’s online service option...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says a significant number of COVID-19 Economic Recovery Task Force recommendations are being implemented across government ministries. Among these, he said, is the implementation of laws that are consistent with Jamaica’s international tax obligations, noting that the recent amendment of the Revenue Administration Act is consistent with that....

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says prospects for a return to economic growth in Jamaica in short order are “strong”. He said this is largely against the background of news about the possible availability of a coronavirus (COVID-19) vaccine for Jamaica and several other countries that are among the island’s main trading partners....

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says Standard and Poor’s (S&P) decision to maintain Jamaica’s ‘B+’ credit rating, represents the agency’s confidence in the economy and the direction of the Government’s economic policy, against the background of the novel coronavirus (COVID-19) pandemic. A Ministry statement, on Wednesday (December 9), indicated that S&P’s maintaining of...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says payments that are outstanding under two components of the Government’s $10-billion COVID-19 Allocation of Resources for Employees (CARE) Programme, are expected to be made during December. Speaking during a media briefing on Thursday (December 10), Dr. Clarke noted that some payments under the Supporting Employees with the...