The Government will be reducing the bond on duties paid by new-car dealers from 100 per cent to 20 per cent. The announcement was made by Minister of Finance and the Public Service, Hon. Fayval Williams, as she opened the 2025/26 Budget Debate in the House of Representatives on Tuesday (March 11). Mrs. Williams said the decision followed requests from...

The Government will increase Jamaica’s personal income tax threshold to $2 million over a three-year period, commencing April 1. The announcement was made by Minister of Finance and the Public Service, Hon. Fayval Williams, while opening the 2025/26 Budget Debate in the House of Representatives on Tuesday (March 11). She said that the threshold will be increased in three tranches...

Tax Administration Jamaica (TAJ) is now collecting approximately 80 per cent of its revenue through online platforms. Commissioner General, Ainsley Powell, in making the disclosure said that the development is welcome, as it has significantly reduced the number of business customers visiting the TAJ’s offices to complete transactions such as the filing of income tax returns. He noted, “On March...

Bank of Jamaica (BOJ) Governor, Richard Byles, has underscored the pivotal role of multilateral partnerships in driving the country’s economic achievements over the past 15 years. He highlighted notable collaborations with stakeholder interests such as the International Monetary Fund (IMF), World Bank, Centre for Latin American Monetary Studies (CEMLA), European Union (EU), Economic Commission for Latin America and the Caribbean...

The 2025/26 Budget Debate begins today (March 11) in the House of Representatives, with Minister of Finance and the Public Service, Hon. Fayval Williams, making her presentation. Mrs. Williams will inform the nation how the $1.26-trillion Budget for the new fiscal year, which she tabled in the House on February 13, will be funded. The Budget Debate will last until...

Owners and operators of gaming machines and prescribed premises in Westmoreland are being invited to take advantage of the remote licensing activity being conducted in the parish by the Betting Gaming and Lotteries Commission (BGLC).  Licensees are being asked to visit the Boardwalk Shopping Village in Negril Westmoreland on March 10 and 11 between 9:30 a.m. and 4:30 p.m. to...

Minister of Finance and the Public Service, Hon. Fayval Williams, has reaffirmed the Government's commitment to expand the use of the Central Bank Digital Currency (CBDC), JAM-DEX.   She noted that the project has not been abandoned and remains a priority, despite facing some challenges related to onboarding businesses.  "JAM-DEX is still very much alive and well," she said, noting that...