Project to Improve Business Environment Allocated $135.6 Million

A sum of $135.6 million has been allocated to a project to reduce/eliminate administrative barriers and to establish an improved business operating environment to support private sector growth.

Details of the Promote, Renew, Investigate, Develop and Energise (PRIDE) Project are included in the 2013/14 Estimates of Expenditure, which is now before the House of Representatives.

Anticipated targets for 2013/2014 include: support implementation of the risk management system and develop annual debt collection and audit plans; continue project management support to implement the Tax Administration reform programme; continue public/private dialogue to encourage ongoing and new reform efforts; and produce monthly /quarterly reports on projects.

Already, the project has developed a risk approach to identify and select high risk corporate income tax cases for audit; developed a prioritisation system for debt arrears collection; provided a revise operational framework for petroleum monitoring; provided technical support to implement standardised customs valuation procedure; and developed a debt management annual plan.

The programme is funded jointly by the Government of Jamaica and the United States Agency for International Development (USAID). Implementation of the Programme started in March 2010 and is scheduled to be completed by March 2015.