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The Executive Board of the International Monetary Fund (IMF) have approved Jamaica’s performance under the Extended Fund Facility (EFF), enabling the country to make an immediate drawdown of SDR 28.32 million or approximately US$39.3 million. Following the review, Deputy Managing Director and Acting Chair of the Board, Mr. Min Zhu, said the authorities continue to have an impressive track record...

Ninety-seven per cent of public sector workers have now signed on to the Heads of Agreement for wage increase and improved benefits, for the 2015/17 period. The latest groups to accept the agreement are the United District Constables Association, as well as the Jamaica Federation of Corrections and Senior Uniformed Officers Association, representing correctional officers. They signed on Tuesday (December...

Implementation of the Revenue Administration Information System (RAiS) will position Tax Administration Jamaica (TAJ) to operate at international standard. The RAiS is used by TAJ to better communicate with its customers and boost the efficiency of the agency’s operation. Commissioner General at the TAJ, Ainsley Powell, told JIS News recently at a ‘Think Tank’ that there are many countries that...

Tax Administration Jamaica (TAJ) is assuring clients that it will continue to provide training on the use of its Revenue Administration Information System (RAiS). Commissioner General of TAJ, Ainsley Powell, told JIS News that the agency has implemented strategies to educate taxpayers on the use of the web-based facility. “At Constant Spring, we have a dedicated room that you can...

Tax Administration Jamaica (TAJ) has reported increased compliance since the implementation of its Revenue Administration Information System (RAiS) earlier this year. Commissioner General of TAJ, Ainsley Powell, told JIS News that the new system allows TAJ to treat with delinquent taxpayers, based on their risk level. “We have a feature that we refer to as our compliance management feature that...

One hundred and eighty public and private sector workers, who have successfully completed professional development programmes at the Management Institute for National Development (MIND), will graduate during a ceremony to be held on Saturday, December 12, at the Institute’s Old Hope Road campus. Minister of Health, Hon. Horace Dalley, will deliver the keynote address at the 16th annual graduation and...

Jamaica has, for this calendar year up to October, recorded its lowest inflation rate of 2.9 per cent in almost 50 years. According to reports from the Statistical Institute of Jamaica (STATIN), the rate for the September 2014 to October 2015 period was two per cent. Meanwhile, for the month of October this year, inflation was at 0.3 per cent....

Jamaica has, for this calendar year up to October, recorded its lowest inflation rate of 2.9 per cent in almost 50 years. According to reports from the Statistical Institute of Jamaica (STATIN), the rate for the September 2014 to October 2015 period was two per cent. Meanwhile, for the month of October this year, inflation was at 0.3 per cent....

Co-Chair of the Economic Programme Oversight Committee (EPOC), Mr. Richard Byles, has credited improved tax compliance measures for tax revenues surpassing the budget for the second month in October. At his monthly press briefing, held at the Sagicor Life Jamaica head office, in New Kingston, today (December 10), Mr. Byles said revenues for the first seven months of the fiscal...

The Jamaica Customs Agency says it has surpassed its revenue target for the period April 1 to November 30. Commissioner of Customs, Major (Ret’d) Richard Reese, said collections amounted to $119.26 billion for the period, surpassing the $105.2 billion target set by the Ministry of Finance and Planning by $14.07 billion or 13 per cent. He was speaking at a...

The Jamaica Customs Agency says it is in a full state of readiness to handle the expected increase in cargo shipments during the festive season. Senior Director of the entity’s Kingston operations, Selina Clarke-Graham, said the agency is already seeing an uptick in the volume of imported items and measures have been implemented to facilitate the clearance of goods. “We...

Customers registering businesses and companies with the Companies Office of Jamaica (COJ) will continue to experience longer processing time as the Agency’s express services remain suspended beyond the previously stated date of December 7, 2015. Persons registering companies and businesses will experience a seven and five day turnaround time, respectively. The Agency’s express and guaranteed service times are expected to...