The gross assets of Jamaica’s 150 active public bodies are projected to grow by more than $100 million in fiscal year 2025/26. This was disclosed by Minister of Finance and the Public Service, Hon. Fayval Williams, while opening the 2025/26 Budget Debate in the House of Representatives on Tuesday (March 11). “Public bodies are expected to end the new fiscal...

Jamaica Customs Agency (JCA) Chief Executive Officer (CEO), Dr. Velma Ricketts Walker, is anticipating Senate approval of the new Customs Act before the end of this fiscal year. The legislation was passed in the House of Representatives on May 29, 2024, after being reviewed by a Joint Select Committee for approximately 18 months. “I am happy to share that the...

Fiscal discipline will continue to play a critical role in Jamaica's economic strength and future prosperity. That was the commitment from Minister of Finance and the Public Service, Hon. Fayval Williams, as she opened the Budget Debate for fiscal year 2025/26 in the House of Representatives on Tuesday (March 11). Drawing on the nation's journey from reliance on external support...

The Government will be reducing the bond on duties paid by new-car dealers from 100 per cent to 20 per cent. The announcement was made by Minister of Finance and the Public Service, Hon. Fayval Williams, as she opened the 2025/26 Budget Debate in the House of Representatives on Tuesday (March 11). Mrs. Williams said the decision followed requests from...

The Government will increase Jamaica’s personal income tax threshold to $2 million over a three-year period, commencing April 1. The announcement was made by Minister of Finance and the Public Service, Hon. Fayval Williams, while opening the 2025/26 Budget Debate in the House of Representatives on Tuesday (March 11). She said that the threshold will be increased in three tranches...

Tax Administration Jamaica (TAJ) is now collecting approximately 80 per cent of its revenue through online platforms. Commissioner General, Ainsley Powell, in making the disclosure said that the development is welcome, as it has significantly reduced the number of business customers visiting the TAJ’s offices to complete transactions such as the filing of income tax returns. He noted, “On March...

Bank of Jamaica (BOJ) Governor, Richard Byles, has underscored the pivotal role of multilateral partnerships in driving the country’s economic achievements over the past 15 years. He highlighted notable collaborations with stakeholder interests such as the International Monetary Fund (IMF), World Bank, Centre for Latin American Monetary Studies (CEMLA), European Union (EU), Economic Commission for Latin America and the Caribbean...