With just over three weeks since the October 2, 2024 launch of the Government of Jamaica’s Reverse Income Tax Credit (RITC), Tax Administration Jamaica (TAJ) is reporting 262,638 eligible applications approved for processing and subsequent disbursement. The tax giveback is a one-time payment of $20,000 to eligible taxpayers earning below $3M, with an estimated 580,000 individuals slated to benefit from...

Young people are being encouraged to engage, speak up, listen to others and to dream big to transform lives. Director General of the Planning Institute of Jamaica (PIOJ), Dr. Wayne Henry, made the call at the opening of the United Nations Development Programme (UNDP) 2024 Ready Set Great Youth Conference, on October 17, at the Jamaica Pegasus Hotel in New...

The Government has approved a $200-million grant for the University of the West Indies (UWI) to facilitate the establishment of a Fiscal Research Centre. This was announced by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, who indicated that the provision is “a special grant on top of the usual subvention of $200 million”, adding that...

The Government has signed a US$12-million loan agreement with the World Bank Group’s International Bank for Reconstruction and Development (IBRD) for the Kingston Waterfront Improvement (KiWI) Project. The signing ceremony took place on Friday (October 18) at the Ministry of Finance and the Public Service in Kingston. The KiWI Project involves the design and implementation of a modern park along...

The Students’ Loan Bureau (SLB) is reminding borrowers that there is an incentive for maintaining a high grade point average (GPA) during their period of study. Manager of the SLB’s Loan Servicing Department, Cheryl Surjue, told a JIS Think Tank on October 17 that students who maintain a GPA of 2.5 and over qualify for a reduction in their interest...

The Government has indicated that it is prepared to take a long-term approach to ascertaining recommendations from the documents published in the Financial Sector Adjustment Company (FINSAC) Commission Archives. Speaking during the launch of the Archives at The Jamaica Pegasus hotel in New Kingston on Thursday (October 17), Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke,...

Economist in the Ministry of Finance and the Public Service, Keenan Falconer, says the Government’s first structured securitisation transaction in the international capital markets is a sign of confidence by international investors in the quality of Jamaica’s financial instruments. The Government of Jamaica successfully secured US$480 million through the securitisation of assets belonging to the Norman Manley International Airport (NMIA)....