Tax Administration Jamaica (TAJ) wishes to advise employers that statutory deductions (S01) for October are due on Monday November 16, 2020. This is as a result of the usual due date of the 14th day of the month falling on the weekend. Taxpayers will therefore be allowed to submit their October S01 the following business day, Monday November, 16 without...

Tax Administration Jamaica (TAJ) has taken its collaboration with National Commercial Bank (NCB) a step further, by expanding online bill payment, known as Paysmart, to business/corporate clients to pay several tax types. This means NCB business/corporate clients now have the option to add Tax Administration Jamaica as a payee on their eBanking platform. This convenient additional payment option, represents yet another way...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says preliminary numbers for the six-month period ending September 30 show that overall revenues were $8 billion or three per cent higher than budgeted in the First Supplementary Estimates. The figures, however, were 18.8 per cent lower than for the corresponding six months of last year. Dr. Clarke...

The Government will be scaling up public investment in the Second Supplementary Estimates for 2020/21, which was tabled in the House of Representatives on Tuesday (October 6). Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, said that the objective is to help revive economic activity and maintain jobs, adding that it sends an important signal to...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, tabled the Second Supplementary Estimates of Expenditure for 2020/2021 in the House of Representatives on October 6. It proposes overall additional expenditure of $15.7 billion to generate a total expenditure budget of $853.7 billion. Minister Clarke said that the Second Supplementary Estimates reflects increased spending to meet coronavirus...

President of the Caribbean Development Bank (CDB), Dr. William Warren Smith, says the institution has been instrumental in the transformation of the region, with US$2.5 billion disbursed between 2011 and 2019 for various developmental projects. He said that US$1.8 billion of the approved funds went towards financing undertakings in transportation, social infrastructure, environment, sea defences, disaster management, reconstruction, and energy....

Bank of Jamaica announces its decision to hold the policy interest rate (the rate offered to deposit-taking institutions on overnight placements with Bank of Jamaica) unchanged at 0.50 per cent per annum. Jamaica continues to grapple with the challenge of the COVID-19 pandemic and the adverse impact on economic activity. Bank of Jamaica has therefore kept the policy rate at...