International Monetary Fund (IMF) Managing Director, Christine Lagarde, has commended the Government’s establishment of the Economic Programme Oversight Committee (EPOC). The Committee monitors the implementation of Jamaica’s economic reform measures. Describing it as a display of “real innovation” by the administration, Madame Lagarde said the concept is indicative of multi-sectoral ownership of, and support for the programme. She made these...

Managing Director of the International Monetary Fund (IMF), Christine Lagarde, says she is confident in Jamaica’s ability to sustain and enhance economic stability, through Government’s implementation of the Economic Reform Programme (ERP). She also expresses similar confidence for other Caribbean islands, which she says are also undertaking similar programmes. The IMF Chief made her remarks while delivering a special lecture...

On June 20, 2014, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation and fourth review through the Extended Arrangement under the Extended Fund Facility (EFF) with Jamaica. The completion of the review enables the disbursement of an amount equivalent to SDR 45.95 million (about US$70.9 million) bringing the total disbursements under the arrangement to SDR...

Tax Administration Jamaica (TAJ) is reminding companies and individuals in business that the first payment of $30,000 for the new Minimum Business Tax (MBT) is due by June 15. Payment is to be made at any tax office, using a payment advice. The MBT, which was implemented in April 2014, requires persons operating a business to pay a Minimum Business...

Minister of Finance and Planning, Dr. the Hon Peter Phillips and a Jamaican delegation-are now in Europe having completed the first leg of the Annual Non Deal Road Show in the USA. While in the USA they visited New York City, Boston and Los Angeles. The road show is aimed at sensitizing external stakeholders of the progress/status of the Jamaican...

The Development Bank of Jamaica (DBJ) is implementing a number of initiatives aimed at facilitating venture capital and private equity transactions in the island. These will be undertaken with technical assistance from the Inter-American Development Bank (IDB). Minister of State in the Ministry of Science, Technology, Energy and Mining, Hon. Julian Robinson made the disclosure during his contribution to the...

Technical Specialist at Tax Administration Jamaica (TAJ), Donna Newman, says the Government has “revised and revamped” how General Consumption Tax (GCT) is applied to imported services. Resident tax payers will now be required to pay GCT on any service that would normally be taxable if it was supplied locally. Ms. Newman, who was addressing a recent JIS ‘Think Tank’, explained...