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KINGSTON — The PetroCaribe Development Fund will make available a total of $28.5 billion in loan financing to Central Government and self-financing public bodies, Minister of Finance and the Public Service, Hon. Audley Shaw has said. In his Budget Debate presentation at Gordon House on April 28, Mr. Shaw said the Fund will also play a critical role in financing...

KINGSTON — The Government will give up $330 million in revenues payable under new tax measures announced by the Minister of Finance and the Public Service, Hon Audley Shaw, in the House of Representatives on Thursday April 28. It will cost the Government some $300 million for the reduction in fees on Probate, Letters of Administration and Transfer Tax on...

KINGSTON — Minister of Finance and the Public Service, Hon. Audley Shaw, says Government’s primary objective will be to make full use of current financial stability to create a base for growth and prosperity. Opening of the Budget Debate in Parliament on Thursday April 28, Mr. Shaw said the Government plans to achieve a balanced budget by 2015/16. He said...

KINGSTON — Minister of Finance and the Public Service, Hon. Audley Shaw, says that the modernization of the Central Treasury Management System (CTMS) is far advanced, and a series of strategic improvements has begun. Opening the 2011/12 Budget Debate in the House of Representatives, Thursday April 27, Mr. Shaw said this system will create a single treasury account, to better...

KINGSTON — Finance and the Public Service Minister, Hon. Audley Shaw,said that the establishment of Tax Administration Jamaica (TAJ) should take effect on May 1. The creation of the single entity for tax administration is being facilitated by the merger of the Inland Revenue Department (IRD), the Taxpayer Audit and Assessment Department (TAAD) and the Tax Administration Services Department (TASD)....

KINGSTON — With just days before the Government’s new tax-cheat hotline officially goes into operation, the number announced by Finance and Public Service Minister, Hon. Audley Shaw on April 28 is already being bombarded with calls. Director General for Tax Administration, Viralee Latibeaudiere, said April 29, that while the hotline does not officially open until May 1 “several hundred eager...

KINGSTON — Finance and Public Service Minister, Hon. Audley Shaw says that a tax reform process is to be undertaken, which is planned for implementation in three stages. The move is in keeping with the medium-term (three-year) tax policy framework proposed for Jamaica, which is aimed at simplifying and ensuring equity in the tax system, while meeting the revenue demands...

KINGSTON — The Tax Administration will be introducing a National Compliance Programme (NCP) this fiscal year, making it mandatory for certain individuals to file annual income tax returns. Minister of Finance and the Public Service, Hon. Audley Shaw, made the announcement in his opening Budget presentation for 2011/2012, in the House of Representatives on Thursday, April 28, under the theme...

KINGSTON — As the transition period for the merger of Air Jamaica Limited (AJL) and Caribbean Airlines Limited (CAL) draws to a close, a Shareholder's Agreement is expected to be signed on April 30, Minister of Finance and the Public Service, Hon. Audley Shaw has revealed. In his Budget Debate presentation in Parliament yesterday, the Finance Minister noted that the...

KINGSTON — Some $92 million is to be spent this fiscal year to carry out the construction and renovation of juvenile correctional institutions across the island. As contained in the 2011/2012 Estimates of Expenditure now before the House of Representatives, another $39 million has been set aside for the construction and improvement of several adult correctional facilities. Of that sum,...

KINGSTON — The Capacity Building and Training for Communities component of the Poverty Reduction Programme II has received additional support with an allotment of $60 million in the 2011/12 Estimates of Expenditure. The programme, which began in October, 2010, seeks to improve the socio-economic conditions and quality of life in communities, with emphasis on the promotion of community safety and...

KINGSTON — The Government's  capacity to reduce the cultivation, production and trafficking of illicit drugs is to be improved this year, with funding support from the US Department of State's Bureau of International Narcotics and Law Enforcement Affairs. A sum of $202 million has been allocated in the 2011/12 Estimates of  Expenditure to achieve those  objectives,  underthe Caribbean Basin Security...