Jamaica is not in a recession, despite recent economic challenges, says Director General of the Planning Institute of Jamaica (PIOJ), Dr. Wayne Henry. Speaking at a PIOJ Quarterly press briefing, today (February 19), at the Don Mills Training Room, Dr. Henry addressed concerns about the island's economic performance, citing a comprehensive analysis of key indicators. "While we acknowledge the downturn...

More than 30,000 taxpayers are expected to benefit under the Special Arrears Settlement Programme, says Minister of Finance and the Public Service, Hon. Fayval Williams. The programme, which was introduced by Tax Administration Jamaica (TAJ) in January, aims to encourage taxpayers with outstanding principal sums for selected tax types to pay these by March 31, 2025. Tax types on which...

The Development Bank of Jamaica (DBJ), through its Boosting Innovation Growth and Entrepreneurship Ecosystems (BIGEE) programme has opened a six-week - Call for Proposals, from February 10th to March 19th for the Jamaica Business Fund (JBF). This is a grant fund product aimed at supporting groups of businesses, operating as clusters, where funding of up to US$250,000 is available for...

The Planning Institute of Jamaica (PIOJ) has indicated that it is closely monitoring policy measures in the United States (US) and assessing the likely impacts on the Jamaican economy. “It is too early to determine the precise nature and magnitude of these changes, as they are still being announced and rolled out. However, these new US policies may have a...

The House of Representatives, on Tuesday (February 19), passed legislation to allow for the exemption of locally recruited employees of the World Bank from the payment of income tax. The legislation, Bretton Woods Agreements (Amendment) Act, was piloted by Minister of Finance and the Public Service, Hon. Fayval Williams. Mrs. Williams explained that the Bretton Woods Agreement Act incorporates into...

The House of Representatives, on Tuesday (February 18), passed legislation that will allow the Minister of Finance and Public Service to directly appoint the private sector members of the Tax Administration Jamaica (TAJ) board. The Bill, an Act to Amend the Tax Administration Jamaica Act, was piloted by Portfolio Minister, Hon. Fayval Williams. She explained that the Act established the...

The Planning Institute of Jamaica (PIOJ) anticipates the country’s return to economic growth in the January to March 2025 quarter, with projections within the range of 0.1 to one per cent. Director General, Dr. Wayne Henry, made the disclosure during the PIOJ’s quarterly media briefing at the Institute’s offices in New Kingston on Wednesday (February 19). This positive outlook is...