State Minister for Finance and the Public Service, Hon. Fayval Williams, says as at the end of March 2017, the country’s Debt to Gross Domestic Product (GDP) ratio was at 115 per cent. “Looking forward, the projection is for the Debt/GDP ratio to be at 108.6 per cent at the end of this fiscal year 2017/18 and at 89.5 per...

State Minister for Finance and the Public Service, Hon. Fayval Williams, says the Government’s implementation of the $1.5-million personal income tax threshold represents more than a policy shift from direct to indirect taxation. “The shift is simply the ‘how’. The ‘why’ is our belief that personal income tax reform can improve the lives of Jamaicans,” she said. Mrs. Williams was...

Secondary Students are being encouraged to participate in the Caribbean Organisation of Tax Administrators (COTA)/Tax Administration Jamaica, Fifth Regional Essay Competition. It is open to students between the ages of 14 and 15 years, who are required to construct an essay around the topic ‘If I were the Head of my Country’s Tax Administration, what would I do to increase...

Government Senator, Don Wehby, is proposing an amnesty for the collection of property tax arrears in order to allow time for persons to get regularised. “The Minister of Finance and the Public Service has stated that the Government has no intention of taking away anyone’s property because they are facing financial or other hardships. I support this position and believe...

In a bid to increase property tax compliance, the Ministry of Local Government and Community Development, will be holding a series of town hall meetings right across the island to sensitise citizens and to answer their questions. The first will be held in St. Elizabeth on May 4, which has the lowest levels of property tax collection. Portfolio Minister, Hon....

Finance and the Public Service Minister, Hon. Audley Shaw, says a Microcredit Bill, which aims to regulate the microfinance sector, is being finalised for tabling in Parliament shortly. “This is necessary as Jamaica seeks to expand formal financial inclusion that is consistent with international best practices of transparency,” Mr. Shaw said. He was speaking at a seminar hosted by the...

The International Monetary Fund (IMF) has given Jamaica high marks for its economic performance in its review of the country’s Stand-by Agreement (SBA), issued on Tuesday (April 18). The IMF says programme implementation remains strong under the SBA. “Sustained macroeconomic discipline and visible reforms have boosted stability and confidence. Positive real GDP has been recorded in seven consecutive quarters and...