The Government received thumbs up for its fiscal and legislative programme on Thursday, July 16, when the Partnership for Jamaica, chaired by Prime Minister, the Most Hon. Portia Simpson Miller, met for its second annual retreat at the Terra Nova Hotel in Kingston. In making the Private Sector Organization of Jamaica’s (PSOJ) presentation at the retreat, the entity’s Executive Director,...

Tax Administration Jamaica (TAJ) has, for the first time, published its National Compliance Plan, which strategically outlines the compliance approaches to be used during the current 2015/2016 fiscal year. The plan, available on the agency’s website as at July 1, allows the public to be informed about the administration’s tax compliance focus for the year. The strategies outlined will ensure...

During the first quarter of 2015, the Jamaican economy grew by 0.4 per cent when compared to the similar quarter of 2014. This growth was due mainly to a 0.6 per cent increase in the Services industries. All industries within the services industries recorded increased levels of output with the exception of Electricity & Water Supply and Producers of Government...

Jamaica has benefitted from close to US$3 billion in concessionary financing and balance of payments relief under the PetroCaribe Energy Cooperation Agreement since its establishment in 2005. Finance and Planning Minister, Dr. the Hon. Peter Phillips, says the funds assisted in stabilising the country’s foreign exchange market and balance of payments accounts, and were the largest such provision to Jamaica...

Prime Minister, the Most Hon. Portia Simpson Miller, says the Government will be pressing ahead with the Economic Reform Programme (ERP), noting that Jamaicans stand to benefit from the debt reduction and growth-inducing measures being put in place. The ERP is aimed at achieving fiscal consolidation, macro-economic stability, high levels of economic growth, job creation and social protection for the...

President of Jamaica Promotions Corporation (JAMPRO), Diane Edwards, says the country performed creditably in attracting $64 billion (US$551 million) in Foreign Direct Investments (FDIs) during 2014, despite this figure being a seven per cent decline over 2013 inflows. The fall in the figure, contained in the United Conference on Trade and Development’s (UNCTAD) 2015 World Investment Report (WIR15), is largely...

The Betting Gaming and Lotteries Commission (BGLC) is working closely with gaming lounge operators to ensure that their establishments are in compliance with the requirements under the Proceeds of Crime Act (POCA). The legislation aims to strengthen the framework for combating money laundering and financing of terrorism in Jamaica. As a designated non-financial institution (DNFI) under POCA, gaming operators have...