President of the Private Sector Organisation of Jamaica (PSOJ), Keith Duncan, is commending the Government on the fiscal package put in place to help those who will be impacted by the coronavirus (COVID-19). He said he is pleased that focus is being placed on employees, small businesses and the informal sector. “We appreciate the package and we appreciate that there...

Bank of Jamaica (BOJ) Governor, Richard Byles, says the policy rate offered on overnight placements by deposit-taking institutions (DTIs) will remain unchanged at 0.50 per cent. This comes as the Government leads Jamaica’s response to the coronavirus (COVID-19) pandemic, which has seen the country recording 26 confirmed cases to date. Addressing journalists during a virtual press conference on Thursday (March...

The Ministry of Labour and Social Security is advising National Insurance Scheme (NIS) pensioners that all pension vouchers with payable dates of April 2020, that they will be able to encash these as of Monday, March 30. The early encashment will only be available at the post offices. National Commercial Bank (NCB) will only cash pension vouchers on or after...

The Government has instituted a multi-billion dollar COVID Allocation of Resources for Employees (CARE) programme to assist workers and businesses during the emergency period caused by the coronavirus (COVID-19). Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, who made the disclosure while closing the 2020/2021 Budget Debate in the House of Representatives today (March 24), outlined...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says the Government is prepared to suspend the Fiscal Responsibility Law, if necessary, to facilitate additional interventions to curtail the coronavirus (COVID-19) outbreak in Jamaica. “I want to assure the people of Jamaica that should things take a turn for the worse, beyond what we currently envisage and...

Up to June 30, Tax Administration Jamaica (TAJ) will facilitate the issuing of single-use Tax Compliance Certificates to companies that may fall into non-compliance due to the coronavirus (COVID-19). Additionally, TAJ will issue no new summons, or initiate new court proceedings or enforcement action for non-compliance, until after June 30. However, reminders and notices will continue to be generated. Minister...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says he will be tabling a draft Fiscal Council Bill in Parliament shortly. Closing the Budget Debate in the House of Representatives on Tuesday (March 24), Dr. Clarke said that the Bill seeks to, among other things, “entrench durable accountability of fiscal policy and address gaps". “In that...