Financial analysts continue to hail the Government’s tax reform initiative to move from direct to indirect taxation as a step in the right direction. Chief Executive Officer (CEO) of the Private Sector Organisation of Jamaica (PSOJ), Dennis Chung, said his organisation applauds the move as it will capture a larger cross section of the society and achieve a higher compliance...

The Caribbean Financial Action Task Force (CFATF) in conjunction with the Government of Jamaica will host its Plenary and Working Groups Meeting in Montego Bay, Jamaica from June 6-9, 2016 at the Hilton Rose Hall Resort and Spa. The high level Plenary Meeting will see over 10 Attorney Generals and Ministers of Government from across the region in attendance. The...

The Planning Institute of Jamaica (PIOJ) is projecting growth of between one and two percent for the 2016/17 fiscal year. PIOJ Director General, Colin Bullock, said the positive forecast is based on several factors, including an anticipated increase in global economic growth; strengthening of investor confidence; favourable weather conditions for agricultural production; and the impact of business environment reforms. He...

Minister of State in the Finance and Public Service Ministry, Hon Fayval Williams, has hailed internal auditors for their work in aiding the fight against corruption in many entities. Speaking at the Institute of Internal Auditors (IIA) anniversary banquet and awards ceremony, at the Spanish Court Hotel in New Kingston, on May 28, Mrs. Williams emphasised the costliness of corruption...

The Government has increased the allocation for national security in the 2016/17 Budget. “The total resources provided is $59.2 billion, up by $2.4 billion from the $56.8 billion provided in the Revised Budget of 2015/2016,” said Minister of Finance and the Public Service, Hon. Audley Shaw, as he closed the Budget Debate in the House of Representatives on May 25....

Prime Minister, the Most Hon. Andrew Holness, said the Government intends to continue the overhaul of the tax system to promote reliability, equity and economic efficiency.             Mr. Holness made the comment during his Budget Debate presentation in the House of Representatives on May 24.             As part of the reform process, the Government is moving to increase the personal...

The Bank of Jamaica (BoJ) will be maintaining a presence in the foreign exchange market until it settles.             “This presence underscores the Government’s commitment to ensuring orderly conditions in the foreign exchange market within the context of a flexible exchange rate regime,” Minister of Finance and the Public Service, Hon. Audley Shaw, said as he closed the 2016/17 budget...