Employers are reminded that their Monthly Statutory Remittance payroll payments (S01) for the December period are due Wednesday, January 14, 2015 and are encouraged to file and pay these amounts on time to benefit from an Employment Tax Credit (ETC). The ETC allows eligible employers to make a claim when computing their income tax liability, starting with the year of...

Tax Administration Jamaica (TAJ), along with its partner agencies National Housing Trust (NHT), National Insurance Scheme (NIS) and Heart Trust/NTA, has stepped up activities to provide support to employers to meet the new mandatory e-filing requirement. Business persons can access assistance through a series of sessions to help them with electronically filing their Employers Annual Return (S02) to meet the...

The Government will be tabling the 2015/16 Budget in February, with the estimates of expenditure and revenue estimates to be laid in the House of Representatives at the same time. “We are having a new budget cycle this year. In February, we will be laying the estimates of expenditures and for the first time, it is proposed to lay the...

Two senior executives of one of the country’s leading financial institutions have come out in support of Government’s economic programme, stating that it is facilitating growth and raising the country’s investment profile internationally. Chief Executive Officer of Scotia Group Jamaica Limited, Jacqueline Sharp said that “right now Jamaica is poised for growth”. “We have seen the commitment so far demonstrated...

There are signals of a continued uptick in the economy into the New Year, with Minister of Finance and Planning, Dr. the Hon. Peter Phillips, reporting positive developments in a number of areas. He noted that employment has increased and there are encouraging signs particularly as it relates to youth employment. Inflation for the calendar year is expected to be...

Partners received an update on Jamaica’s progress and Budget report from the Minister of Finance and Planning, Dr. The Hon. Peter Phillips, at the first Partnership for Jamaica (PFJ) National Council meeting for 2015 and commended the Government for staying the course of Jamaica’s Economic Reform Programme and for consistently meeting the economic targets. President of the Private Sector Organisation...

Minister of Finance and Planning, Dr. the Hon. Peter Phillips, is expressing confidence that Jamaica will pass its 7th consecutive International Monetary Fund (IMF) quarterly test, when the review of the period ending December 31, 2014 is done later this year. On December 19, the Executive Board of the IMF approved the disbursement of US$67 million for Jamaica following a...