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Minister of Finance, Hon. Audley Shaw, has assured Parliament that Jamaica will not earn the reputation of a tax haven, when the proposed International Financial Centre (IFC) is established in downtown Kingston. Addressing the House of Representatives on June 30, Mr. Shaw argued that a tax haven is a jurisdiction that does not have competitive tax base, and refuses to...

Small and medium-sized business operators are set to benefit from a partnership between the Jamaica Trade and Invest (JTI) and the Jamaica Stock Exchange (JSE), which will make it easier for them to list on the JSE. On July 1, the JSE is expected to sign a memorandum of understanding with the Corporate Finance Broker Unit of the JTI, which...

Prime Minister, Bruce Golding, has made it clear that the Government would only enter into an agreement with the International Monetary Fund (IMF), if the terms of the agreement were beneficial to the country. "We are not going to go back into any IMF agreement unless we are satisfied that that agreement is good for Jamaica, that it has the...

Prime Minister Bruce Golding has warned that no International Monetary Fund (IMF) agreement, World Bank or Inter-American Development Bank (IDB) arrangement, can solve the long-term problems facing Jamaica. Mr. Golding said that while the country may need an IMF agreement to assist it through this immediate economic storm, it will not solve the problems of Jamaica because the problems are...

Minister without portfolio in the Ministry of Finance and the Public Service, Senator Don Wehby, has urged Jamaicans to return to a society of good values and positive attitudes. "We need to create what I would describe as a culture of excellence. But sometimes when I listen to the lyrics of the popular music, I hear recurring themes of violence,...

Minister of Finance and the Public Service, Hon. Audley Shaw, today announced that the implementation date of July 1 for the consolidation of statutory deductions, will be changed. Minister Shaw said that several important features of the initiative, including amendments to existing legislation and further consultation with stakeholders, required more time in order to facilitate a seamless and orderly implementation...

Prime Minister the Hon. Bruce Golding and Minister of Finance and the Public Service, Hon. Audley Shaw, will meet with the social partnership group on June 25 to discuss the terms under which the country should enter into a funding arrangement with the International Monetary Fund (IMF). This follows a directive from Cabinet for Government to explore the IMF stand-by...

Prime Minister Bruce Golding will consult the Social Partnership Group on Thursday, June 25, on the terms under which Jamaica should enter into a funding arrangement with the International Monetary Fund (IMF). This follows a Cabinet directive that Jamaica should explore the IMF Standby Facility in order to keep the goals for the Medium Term Economic Programme (MTEP) on track....

The Tax Administration Department (TAD) is seeking to simplify the process of obtaining a Tax Compliance Certificate (TCC). TCCs are required for several transactions in Jamaica, especially for businesses seeking to secure a Government contract valuing more than $250,000. At a function held recently at the offices of Jamaica Trade and Invest (JTI) in Kingston, Commissioner of the Taxpayer Audit...

The Ministry of Finance and the Public Service has launched a programme to sensitise officers involved in public sector procurement to new developments in the system. The public procurement workshop, officially launched at the Jamaica Conference Centre, downtown Kingston, on Wednesday (June 17), aims to familiarise the officers with new instruments and regulations governing procurement procedures in the public service...

In an effort to improve service delivery to clients and encourage greater compliance, the Tax Administration of Jamaica opened the new, modern 'one stop' Savanna-La-Mar Tax Office in Westmoreland on Thursday (June 11). The relocated office is now in the Hendon Mall, Beckford Street, and accommodates the staff of both the Inland Revenue Department (IRD) and the Taxpayer Audit and...

Minister of State in the Ministry of Finance and the Public Service, Senator Arthur Williams, says that the aim of tax reform is to ensure that Jamaica develops a system that is simple, fair and competitive. "The system, we believe, should promote economic growth and act as a vehicle for development, and it should be efficiently administered," Senator Williams said....