Head of the Department of Economics at the University of the West Indies (UWI), Dr. Damien King, says that reforming the country’s tax code will bring about a fairer tax system, which will promote growth and bring in revenue. Dr. King made the comment in light of the recently passed Omnibus Legislation, which seeks to establish a transparent and coherent...

The Jamaica Customs Department will observe International Customs Day on January 26, as the agency begins a week of activities to mark Customs Week, from January 26 to 31. The theme for this year’s Day is: ‘Communication: sharing information for better cooperation’. Director of Communication at Jamaica Customs Department, Dania Beckford, told JIS News that the theme is fitting and...

Managing Director of the United States based investment firm, Oppenheimer and Company Inc., Gregory Fisher, says Jamaica is well positioned to make further economic gains this year, given what the government has done so far, under the tight economic programme with the International Monetary Fund (IMF). Mr. Fisher said 2014 will be a very important year for Jamaica and pointed...

The Economy and Production Committee of Parliament is to begin discussions on the Bank of Jamaica’s (BoJ) interim report regarding the fees charged by commercial banks and credit unions on Tuesday, January 28. The report is as a result of a motion moved by Member of Parliament for South St. Catherine, Fitz Jackson, in November last year, calling for the...

Co-Chairman of the Economic Programme Oversight Committee (EPOC), Richard Byles, has given the Government high marks for its efforts in fulfilling a significant number of the conditionalities outlined under the Extended Fund Facility (EFF) with the International Monetary Fund (IMF). “I think there is a quiet transformation that is occurring. I think that Government is, in many ways, putting its...

Local businesses and entrepreneurs are being urged to file and pay their monthly payroll statutory deductions on time in order to qualify for Employment Tax Credit. Director of Communications at Tax Administration Jamaica (TAJ), Meris Haughton, says Employment Tax Credit is an incentive designed to achieve greater compliance in the filing of taxes, in full and on time. “So for...

The Government has reiterated its commitment to improving the efficiency, quality and cost effectiveness of the public sector. This is stated in a Ministry Paper on Jamaica’s second quarterly review of the Extended Fund Facility (EFF) with the International Monetary Fund (IMF). The document was tabled in the House of Representatives on December 24 by Minister of Finance and Planning,...