The House of Representatives on Tuesday (January 14) passed amendments to the Income Tax Act, codifying the revenue measures that were announced in the 2024/25 Budget. Piloting the legislation, Minister of Finance and the Public Service, Hon. Fayval Williams, said with strong macroeconomic fundamentals, the Government was able to introduce measures aimed at facilitating trade, reducing administrative inefficiencies and offsetting...

The Ministry of Finance and the Public Service is underscoring the importance of early pension planning by government employees. Strategic Planning and Stakeholder Engagement Manager in the Ministry, Dr. Kimorley Humphrey, told JIS News that while many persons associate pensions with retirement, the benefits can be vital for individuals of all ages, including dependents. “The concept of pensions is not...

Minister of Finance and the Public Service, Hon. Fayval Williams, is encouraging ministries which have not yet signed up to the Government’s MyHR+ platform, to do so. “[This is] to ensure that all employees are on an essential system, [so] that payrolls can be processed without errors, employees can view their records [and] have access to it. I know about...

The Ministry of Finance and the Public Service has made significant strides in the digitisation of pensions administration. The digitisation initiative aims to ensure a seamless and efficient retirement transition for public sector workers while maintaining the sustainability of pension arrangements. Speaking recently with JIS News, Strategic Planning and Stakeholder Engagement Manager in the Ministry, Dr. Kimorley Humphrey, who deals...

Bank of Jamaica advises that effective Monday, 30 December 2024, its Nethersole Place location will re-open and normal operations, including Teller Services to the public, will resume.

Bank of Jamaica advises that its Nethersole Place location will be closed tomorrow, Friday, 27 December 2024, to facilitate necessary emergency repairs to the building. The Bank will activate its Essential Services Protocol to continue providing core services to the financial markets. In that regard a separate Notice will be sent to financial markets participants. There will be no Teller...

Output prices for producers in the Mining and Quarrying industry increased by 0.2 per cent for November 2024, while the Manufacturing industry remained relatively unchanged as released today by the Statistical Institute of Jamaica (STATIN). The movement in the Mining and Quarrying industry was attributed to a similar 0.2 per cent increase in the index for the major group ‘Bauxite...