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. The decision to hold the policy rate unchanged is based on the Bank’s continued view that monetary conditions are generally appropriate to support inflation remaining within the target...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says several categories of tourism workers, who applied for General Grants under the Government’s COVID Allocation of Resources for Employees (CARE) Programme, will receive their payments by the end of next week. In statement on Friday (June 26), Dr. Clarke indicated that these individuals include: airport red caps,...

Jamaica recorded a 40 per cent drop in the poverty rate in 2018, the lowest in 10 years. This was disclosed by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, in a statement to Parliament on Tuesday (June 23). “In 2018, the poverty rate was 12.6 per cent, a decline of 6.7 percentage points relative to...

The Betting Gaming and Lotteries Commission (BGLC) advises that June 30 is now the final deadline for all gaming operators to renew licences for 2020-2021. This requirement applies to the more than 10,000 gaming machines across the country which are located at various types of premises including gaming lounges, bars, clubs and even hairdressing parlours. “When the COVID-19 crisis emerged...

The Government has received approximately $262 million (¥200 million) in grant aid from Japan to purchase much-needed medical equipment and supplies in response to the coronavirus (COVID-19) pandemic. Among these items are: bedside X-ray machines and monitors; X-ray protection screens and aprons; ultrasound scanners; and defibrillators. The grant is being provided through the Japanese Government’s Economic and Social Development Programme....

The Government will continue the removal of zinc fences from communities, with a sum of $345 million set aside in the 2020/21 Budget for the undertaking. This was disclosed by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, during the debate on the First Supplementary Estimates of Expenditure for 2020/21 in the House of Representatives on...

Tax Administration Jamaica (TAJ) is reminding business persons that the following taxes are due on Monday, June 15, 2020:  Estimated Income Tax (2nd quarter)  Self Employed Statutory Payments (2nd quarter)  Statutory Deductions (S01) for the month of May – must be filed ONLINE using the enhanced form. In the case of the statutory deductions, employees are normally...