Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, tabled the Third Supplementary Estimates for fiscal year 2023/24 in the House of Representatives on Tuesday (September 26). In a statement to the House, Dr. Clarke said the estimates provide for total expenditure of $1.094 trillion, an increase of $58.2 billion over the second supplementary estimates. He indicated...

The Government has increased skills training to further boost employment and better equip Jamaicans to support current and future development. The move will build on the country’s record low unemployment rate of 4.5 per cent and ensure that jobs of the future can be higher paying than those that exist today, said Minister of Finance and the Public Service, Dr....

The House of Representatives, on Tuesday (September 19), passed legislation to provide for the integration of the functions of the Audit Commission into the Ministry of Finance and the Public Service. Portfolio Minister, Dr. the Hon. Nigel Clarke, who piloted the Financial Administration and Audit (Amendment) (no.2) Act, 2023, explained that the move is in keeping with government’s policy on...

The House of Representatives has approved the withdrawal of $282 million from the Capital Development Fund (CDF) to provide budgetary support to the Jamaica Bauxite Institute (JBI) for the 2023/24 financial year. It is also proposed that a withdrawal be made from the Fund for the payment of outstanding management fees of $2.5 million to the Development Bank of Jamaica...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says that upgrading of Jamaica’s credit rating by Standard and Poor’s will facilitate access to financing on better terms. Standard and Poor’s (S&P) Global Ratings, on September 13, upgraded the Government of Jamaica’s Long-Term Foreign and Local Currency Issuer Default Rating (IDR) from B+ to BB-, with a...

A total of 19,063 Jamaicans were granted visas for permanent residence or citizenship in the United States of America (USA), Canada and the United Kingdom (UK) in 2021. This is contained in the Planning Institute of Jamaica (PIOJ) 2022 Economic and Social Survey, which was tabled in the House of Representatives recently. The document notes that the USA remains the...

Tax Administration Jamaica (TAJ) is reminding business persons that their 3rd quarter Estimated Corporate Income Tax and Self-employed Statutory Payments are due on Friday, September 15, 2023. These include: Estimated Corporate Income Tax (3rd quarter) Self Employed Statutory Payments (3rd quarter) Stamp Duty (3rd quarter) Trade Licence Withholding Tax Additionally, Employer’s Monthly Statutory Payroll Deductions (S01) for the month of...