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The Ministry of Finance and the Public Service has communicated to the Ministry of Education that a special waiver has been put in place for schools to be relieved of the 10 percent General Consumption Tax (GCT) now payable on the supply of electricity. Schools are required to submit a letter to the Commissioner of the Inland Revenue Department requesting...

Minister of Finance and the Public Service, Hon. Audley Shaw, has stated that the Government does not plan to introduce any new tax over the next two years. "It is not my intention over the medium term, and certainly during the term of the International Monetary Fund (IMF) agreement, over the next 27 months, to introduce any new tax at...

Minister of Finance and the Public Service, Hon. Audley Shaw, has noted that during the 2010/11 Budget Debate, which ended Wednesday (April 21) at Gordon House, the stability of the Jamaican economy was not questioned. "Despite the many challenges that we have faced, no one has questioned the stability that now exists in the Jamaican economy," Mr. Shaw said, as...

Minister of Finance and the Public Service, Hon. Audley Shaw, yesterday (April 21) sought to clarify the financing arrangements between the Bank of Jamaica (BOJ) and the Finance Ministry. He was responding to questions raised by the Opposition while making his closing presentation in the 2010/11 Budget Debate in Gordon House. Mr. Shaw explained that at various points during the...

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, met with individuals from the local export community Tuesday (April 20), in a bid to increase communication between industry players, as well as develop effective solutions to sector problems. The forum, titled "Let's Talk Exports," was held at the Caymanas Golf and Country Club in St. Catherine. It was the first...

National Insurance Scheme (NIS) pensioners are to receive a 20 per cent increase in benefits, as of June 1, 2010. This was announced today (April 20), by Prime Minister, the Hon. Bruce Golding, during his contribution to the 2010 Budget Debate in the House of Representatives. He also disclosed that there will be other increases to beneficiaries under the NIS,...

Minister of Finance and the Public Service, Hon. Audley Shaw, has allayed fears regarding the introduction of a proposed flat tax for small business operators in specific sectors. Addressing the Micro, Small and Medium Size (MSME) Alliance Post Budget debate at the Stella Maris Conference Centre, Shortwood Road, Kingston on Friday (April 16), Mr. Shaw said that the proposal was...

Minister of Finance and the Public Service, Hon. Audley Shaw, has assured micro, small and medium size enterprise (MSME) stakeholders of the Government's commitment to source funding to finance the sector. Speaking at the MSME Alliance's budget debate, on the "Implications of the IMF Agreement for MSMEs", at the Stella Maris Conference Centre, Shortwood Road, Kingston on Friday (April 16),...

The Taxation Policy Division of the Ministry of Finance and the Public Service, which was closed last Wednesday (April 7), to facilitate Police investigations into the issue of waivers and concessionary letters, reopened Monday (April 12). Opening the Budget Debate in the House of Representatives on Thursday (April 8), Minister of Finance and the Public Service, Hon. Audley Shaw, noted...

Minister of Finance and the Public Service Minister, the Hon. Audley Shaw, has confirmed several billion dollars in payments made into the Consolidated Fund by public sector entities operating with surpluses. Speaking at a press conference at his Ministry, National Heroes Circle, Kingston to expand on his 2010/11 opening budget debate presentation, on Friday (April 9), Mr. Shaw disclosed details...

The Taxation Policy Division of the Ministry of Finance and the Public, which was closed last Wednesday (April 7), to facilitate Police investigations into the issue of waivers and concessionary letters, reopened Monday (April 12). Minister of Finance and the Public Service, Hon Audley Shaw Opening the Budget Debate in the House of Representatives on Thursday (April 8), Minister of...

Finance and the Public Service Minister, Hon. Audley Shaw, is defending the 2010/11 budget, which he presented in the House of Representatives on April 8, describing it as credible. He is also accepting responsibility for what he said was a miscalculation in the rate of interest, which resulted in the need for a $4.5 billion adjustment in the budget. The...