Three Bills that seek to modernise methods of doing business in Jamaica were approved in the Senate today (October 13). The Bills are the Income Tax (Amendment) Act, the Stamp Duty (Amendment) Act, and the Transfer Tax (Amendment) Act. They will allow for the exemption of stamp duty and income and transfer tax on share buy-back transactions involving listed companies. Piloting...

A Bill seeking to modernise the agricultural sector to meet the nation’s growing demands of food security and productivity was passed in the Senate on October 6. The Agricultural Loan Societies and Approved Organisations Act also facilitates the dissolution of the Agricultural Credit Board (ACB) and transfers the Board’s monitoring and regulatory functions to the Registrar of Co-operative and Friendly...

The Senate, on Friday (Sept. 29) passed two critical bills, paving the way for the reform of pension arrangements for employees in the public sector. They are the Pensions (Public Service) Act of 2017, which had 62 amendments and the Constitution (Amendment) (Establishment Fund) (Payment of Pensions) Act of 2017. Under the new provisions, pensionable officers will be required to...

President of the Senate, Hon. Tom Tavares-Finson, has extended condolences to the Governments and citizens of regional countries that have been severely impacted by recent natural disasters. “Since we (Senate) last met, the Caribbean, and in particular our brethren in Dominica, have suffered tremendously (from) Hurricane Maria…(while) our brethren in Cuba (were affected by Hurricane Irma). Indeed, (other) Caribbean (states...

Debate on the public sector pension reform Bills has been suspended in the Senate until it next meets in September, following a recess. This decision was made at the sitting of the Senate on Friday (July 28). The Bills are: The Pensions (Public Service) Act, 2016; and The Constitution (Amendment) (Established Fund) (Payment of Pension) Act, 2016. Leader of Opposition...

The Government is well on its way to strengthening its public debt management framework with the passage of relevant legislation in the Senate on Friday (July 21). Provisions to improve the operational efficiency and effectiveness of debt management are contained in the Public Debt Management (Amendment) Act, 2017, which was approved with one amendment. The Bill seeks to amend the...

The Senate has approved the Integrity Commission Bill, paving the way for the establishment of a single anti-corruption unit, which will investigate and prosecute corruption in Jamaica. The Bill was piloted in the Senate yesterday (July 20) by Minister of Foreign Affairs and Foreign Trade and Leader of Government Business in the Senate, Hon. Kamina Johnson Smith. This legislation, which...