Dr. the Hon. Omar Davies has been hailed for strengthening regulation of the financial sector and improving the Jamaica’s economic competitiveness. Former Prime Minister, the Most Hon. P.J. Patterson said Dr. Davies brought stability to the country’s financial system by strengthening and restructuring the banking and insurance industries. “The regulation of the financial sector, protecting customers, who needed financial services,...

Tax Administration Jamaica (TAJ) is currently conducting more than 100 free sessions across the island to assist taxpayers to file their income tax returns and other returns due in March. Communications Officer at the TAJ, Leighton Beckles, says the sessions are conducted by tax professionals in tax offices islandwide, as part of the TAJ’s taxpayer assistance programme during the tax...

Finance and Planning Minister, Dr. the Hon. Peter Phillips, has again given the Government’s commitment to doing “everything possible” to accommodate claims for salary increases to civil servants for the 2015 to 2017 contract period. He, however, cautioned unions that while there is a “good basis” for the increases being sought, they must recognise that “there has to be a...

Come Thursday afternoon, February 19, Jamaicans will hear what the Government intends to spend for the Fiscal Year 2015/16. Minister of Finance and Planning, Dr. the Hon. Peter Phillips, will table the 2015/16 Estimates of Expenditure and Revenue Measures in the House  of Representatives, which will provide details on what the Ministries and agencies will receive for Recurrent (house-keeping) and...

Tax Administration Jamaica (TAJ) this morning implemented phase one of its new Revenue Administration Information System (RAiS). The February 9, 2015 rollout involves operating General Consumption (GCT), Special Consumption Tax (SCT), Guest Accommodation Room Tax (GART) and Telephone Call Tax (TCT) activities on the new system.  The other tax types will continue to be processed on the previous system for...

Finance and Planning Minister, Dr. the Hon. Peter Phillips, has reaffirmed the Government’s commitment to fulfilling obligations in relation to social protection, as stipulated in the four-year Extended Fund Facility (EFF) with the International Monetary Fund (IMF). This, he said, even as fiscal consolidation continues under the Economic Reform Programme (ERP). Addressing diplomats at a special forum at the Knutsford...

Minister of Finance and Planning, Dr. the Hon. Peter Phillips, says there will be no increase in property tax rates in the next fiscal year. Speaking in the House of Representatives, on February 10, the Minister addressed speculation in the media about the 'supposed' intentions of the government to increase property taxes. Dr. Phillips also informed the Lower House that...