The Statistical Institute of Jamaica (STATIN) is reporting that the domestic economy grew by 1.4 per cent during the January to March 2024 quarter, relative to the corresponding period last year. According to STATIN’s quarterly Gross Domestic Product (GDP) Report, released on Monday (July 15), the out-turn for the review period was spurred by 1.9 per cent growth in the...

Effective June 25, 2024 Tax Administration Jamaica (TAJ) implemented a new administrative policy for the transfer of motor vehicle ownership at all Tax Offices. The policy changes have become necessary as the Authority aligns this aspect of its operations to reflect the changes to the new Road Traffic Act. All Ministries, Departments, Agencies of Government and Corporations are now required...

The House of Representatives, on Tuesday (July 9), passed the Income Tax (Amendment) Act, 2024, which seeks to implement a regime to provide income tax credit to individuals who acquire and instal a solar photovoltaic system at their primary place of residence. Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, had informed of the initiative during...

The Jamaica Railway Corporation (JRC) is looking to commence work towards launching phase one of the tourist train service between Montpelier, St. James, and Appleton Estate in St. Elizabeth. This engagement will involve, among other things, track reconstruction, acquisition of trains and constructing necessary infrastructure along the route. The Corporation also plans to kick-start preparations for the launch of passenger...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, has suggested the establishment of a School of Government in Jamaica to produce a high cadre of public-service officers and leaders. Addressing the Management Institute for National Development (MIND) Regional Public Sector Leadership Development Conference 2024 opening ceremony, at The Jamaica Pegasus hotel in New Kingston on Wednesday...

Tax Administration Jamaica (TAJ) is advising employers that monthly statutory deductions (S01) for June are due on Monday, July 15, 2024. This is because of the usual due date of the 14th day of the month falling on the Sunday. Taxpayers may therefore submit their June S01 the following business day, Monday, July 15 without incurring any penalty. Business persons...

The Bank of Jamaica (BOJ) is currently leading an initiative to develop a centralised electronic Know Your Customer (eKYC) public utility system, which will streamline and simplify the process for opening a bank account. It will also make it easier for every Jamaican wishing to do so to be able to switch their account to the bank offering the best...