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KINGSTON — The proposed reformation of  the tax policy and its administration by the Government is expected to significantly enhance the convenience with which business is facilitated, thereby resulting in increased investments and other economic boosting activities by local and foreign interests. Commissioner General, Viralee Bailey Latibeaudiere, of Tax Administration Jamaica (TAJ), which has responsibility for the administration of the...

KINGSTON — The Jamaica Stock Exchange (JSE) widely regarded as a critical barometer of investor confidence, recorded increases in all its indices for the June 2011 quarter, relative to the previous quarter and for the similar period last year. Data contained in the latest Quarterly Monetary Policy Report (QMPR) of the Bank of Jamaica (BoJ) indicated that except for the...

KINGSTON — Country Representative for the Inter American Development Bank (IDB), Ancile Brewster, says that the Government has a good chance of successfully reforming the tax system “We think so, precisely because there is a general consensus that we have to fix it. With waivers, without waivers the growth hasn’t come, the stimulus hasn’t come and we are very interested...

KINGSTON — Governor of the Bank of Jamaica (BOJ), Bryan Wynter, says that the downgrade of the United States' credit rating, and the debt crisis in the Euro area, have increased uncertainty in global financial markets. “There have been wild fluctuations in global stock indices, particularly those of the developed countries,” Mr. Wynter told the Bank of Jamaica’s media briefing...

KINGSTON — The domestic economy is estimated to register real growth in the range of one to two per cent for the June 2011 quarter, Governor of the Bank of Jamaica, Brian Wynter, announced yesterday. He also noted that the Net International Reserve (NIR) was just under US$2.3 billion at the end of June, there was continued stability in the...

KINGSTON — The Jamaican economy, fuelled by strong performances in mining and quarrying, hotels and restaurants, agriculture, forestry and fishing, recorded growth of 1.5 percent during the April to June quarter, the second consecutive period of growth of more than one percent. However, while the Planning Institute of Jamaica (PIOJ) is pleased with the out-turn for the quarter, the institute...

KINGSTON — The Ministry of Finance and the Public Service announced on Wednesday August 10 that a Parliamentary Tax Committee, established in July, will begin reviewing Government's Tax Reform proposals in September. The Ministry said that, delivering on a promise that the process will be all-inclusive and comprehensive the Government will call on all stakeholders, including business and professional organizations,...

KINGSTON — Minister of Finance and the Public Service, the Hon. Audley Shaw, said Wednesday August 10 that there was “nothing fundamentally different” between Dr. Peter Phillips’ observations and issues he outlined in his national broadcast on Sunday.    “I welcome Dr. Phillip's recognition of the importance of the issues facing the nation. It is now time for empty criticism...

KINGSTON — Minister of Finance and the Public Service, the Hon. Audley Shaw, has assured Jamaicans of Government's efforts to address issues raised by the International Monetary Fund (IMF) about achieving medium term targets. In a national broadcast Sunday August 7, Mr. Shaw said that that the Government is using its best efforts to lock in the positive gains of...

JAMAICA’S ECONOMIC PROGRAMME – CURRENT ISSUES Address to the Nation Hon. Minister of Finance   Good evening. There have been conflicting reports about the status of Jamaica’s Standby Arrangement with the International Monetary Fund (IMF) on Jamaica’s Medium-Term Economic Programme. The IMF Agreement is the centerpiece around which the Medium Term Programme is built, and is a pre-condition for other...

KINGSTON — Minister of Finance and the Public Service, Hon. Audley Shaw, says that despite the challenges in accommodating increased salaries for public sector workers, ongoing talks with the International Monetary Fund (IMF) will ensure that the agreement is honoured without increasing taxation. "We made a decision that we would pay public sector workers the arrears that we owe them,...

KINGSTON — Chairman of the FINSAC Commission of Enquiry, Worrick Bogle, says former head of Century National Bank (CNB), Don Crawford, will not be recalled to give evidence at the enquiry. Mr. Bogle told the Jamaica Information Service (JIS) following Thursday's August 4 sitting at the Jamaica Pegasus Hotel, New Kingston, that the Commissioners would not recall Mr. Crawford, after...