A Resolution to increase the concessionary loan amount which is paid to employees in certain financial institutions was approved in the House of Representatives on January 27. The Provisional Collection of Tax (Income Tax) (Confirmation) Resolution was moved by Minister of Finance and Planning, Dr. the Hon. Peter Phillips. He noted that the change became necessary in order for benefits...

Tax Administration Jamaica (TAJ) is reminding business operators that GCT returns and payments for the month of December 2014 are due on Friday, January 30, 2015. Following a recent amendment to the GCT Act, which took effect October 1, 2014, monthly GCT returns are now due on the last working day of the month. Previously returns were due on the...

Jamaica’s credit rating will continue to improve as the country cements its credibility in the international investment community. “In 2015, Jamaica will mostly likely receive rating upgrades from both Moody’s and S&P (Standard and Poor’s),” said Managing Director of the United States-based investment firm, Oppenheimer and Company Inc., Gregory Fisher. He was addressing the Jamaica Stock Exchange’s (JSE) 10th regional...

Managing Director of Oppenheimer and Company Inc., Gregory Fisher, says Jamaica had a “stellar” year in 2014 and has lauded the Portia Simpson Miller-led administration for the economic gains achieved under the Economic Reform Programme (ERP). He was addressing the Jamaica Stock Exchange’s (JSE) 10th regional conference on Investments and the Capital Markets held recently, at the Jamaica Pegasus Hotel...

The Government is forecasting real gross domestic product (GDP) growth of 1.9 per cent for the fiscal year 2015/2016. Prime Minister, the Most Hon. Portia Simpson Miller, said the growth will be driven by increased activity in targeted sectors. “The expectation is that growth will come mainly from the following areas: mining and quarrying, agriculture, forestry and fishing and construction,”...

Minister of Finance and Planning, Hon. Dr. Peter Phillips, says the gains that have been achieved under the Economic Reform Programme must be sustained in order for Jamaica to realise growth over the medium and long term. He noted that while the programme is challenging, there is evidence that it is delivering positive results, and he expressed commendation to the...

The Government’s implementation of the economic reform programme continues to generate positive feedback from the private sector. This response has amplified in the wake of reported improvements in business and consumer confidence for the October to December 2014 quarter. Details of recent surveys show that the business confidence index rose to 122.9 points for the period, up from 112.1 in...