The annual Income Tax due date is March 15, 2023, and Tax Administration Jamaica (TAJ) is encouraging taxpayers to begin preparations to file their Income Tax Returns, over the coming weeks leading up to Tax Day. Income Tax Filers are being reminded that filing of their Annual Income Tax Return for the year 2022 and declaring their Estimated Income and...

The Government’s budgeted expenditure for fiscal year 2022/23 is being increased by approximately $24.5 billion. This will push the Central Government Budget to $998.2 billion, Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, has said. The details are contained in the Third Supplementary Estimates of Expenditure, which Dr. Clarke tabled in the House of Representatives on...

Government’s programmed mainstreaming of resilience in its activities is expected to aid significantly in safeguarding Jamaica against future shocks. Prime Minister, the Most Hon. Andrew Holness, notes that resilience has been and is being incorporated in the development and upgrade of the country’s roads and supporting infrastructure, to withstand the impact of climate change, and financing and budgetary arrangements, adding...

Chairman of the Financial Services Commission (FSC), Richard Byles (left, head of table) convenes a meeting of the FSC board and Executive Director-designate, Major Keron Burrell (right, head of table), with managers of the FSC, at the entity’s New Kingston offices on Thursday (January 26). Mr. Byles was appointed to chair the FSC’s new eight-member board effective January 23. The...

The Government is pursuing the creation of a “twin peaks model” of financial sector supervision and regulation, which is being programmed for implementation within 18 to 24 months. Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, who made the disclosure, said that the model is intended to modify the existing sector-by-sector-based regulatory approach, which sees the...

Central Bank Governor, Richard Byles, says the bank has the competence to take on its enlarged role, which involves regulating non-bank financial entities alongside deposit-taking institutions (DTI). “At the Bank of Jamaica (BOJ), we accept that charge that we have to prepare to supervise the entire financial sector. We do so now for DTIs, and so we are quite adept...

The Government has no intention of socialising the debt of failed financial institutions, says Prime Minister, the Most Hon. Andrew Holness. He made the declaration, while delivering the keynote address at the opening of the Jamaica Stock Exchange (JSE) Investment and Capital Markets Conference on Monday (Jan. 24), where he said that the full force of the law must be...