The Senate on Friday, March 21, passed the fiscal rule legislation, as the government moves to put a cap on what the country can spend. The fiscal rules seek to bolster transparency within the economy and ensure a sustainable budget. Their enactment means that Parliament will have a greater responsibility in the management of the country’s economic affairs. The Bills,...

Prospective contractors are being encouraged to ensure they can fulfill the necessary requirements before submitting bids in response to Government requests for project proposals. Senior Director, Procurement and Asset Policy Unit, Ministry of Finance and Planning, Cecile Maragh, said this is necessary in ensuring that public procurement is carried out with the highest level of efficiency, transparency and fairness. “When...

Financial analyst, Ralston Hyman, says Jamaica is well on track to achieving a balanced budget this year. This, he says, is based on several positive outcomes and developments resulting from the Government’s implementation of measures under the four-year Extended Fund Facility (EFF), negotiated with the International Monetary Fund (IMF), as well as the country’s Economic Reform Programme (ERP), endorsed by...

Tax Administration Jamaica (TAJ) is encouraging employers to utilize the online filing system and submit their annual returns by the March 31 deadline. Manual filing of returns ceased on March 1 this year, when it became mandatory for all employers with more than 20 employees to file the Employer’s annual return SO2 form online via the Jamaica tax portal:  www.jamaicatax-online.gov.jm....

The House of Representatives on Tuesday, March 18, passed the fiscal rule legislation, which is to be enacted by the end of this month. The fiscal rules will seek to bolster transparency within the economy and ensure a sustainable budget. It will also mean that Parliament will have a greater responsibility in the management of the country’s economic affairs. The...

Finance and Planning Minister, Dr. the Hon. Peter Phillips, says despite budgetary resource constraints, the Government has established a protected spending floor of $20.7 billion to cover critical social programmes for the society’s most vulnerable. These programmes include: the Programme of Advancement through Health and Education (PATH); School Feeding Programme; Indoor and Outdoor Poor Relief Programme; Subsidy to Basic Schools;...

The Planning Institute of Jamaica (PIOJ) is expressing satisfaction with the outcomes of the recently concluded Government of Jamaica/European Union/United Nations Environment Programme (GOJ/EU/UNEP) Climate Change Adaptation and Disaster Risk Reduction Project, which it co-managed in partnership with UNEP. The 38-month project, implemented between October 2010 and December 2013, was aimed at assisting in strengthening Jamaica’s ability to adapt to...