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Minister of Finance Reviews New Revenue Measures

The following is a press release issued from the Ministry of Finance and Planning: This morning whilst addressing a meeting with a number of trade union leaders Minister Phillips indicated that he will be conducting a review of the announced revenue measures and will shortly announce if any adjustments will…

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Funding For Implementation of JAMTAX

Tax Administration Jamaica (TAJ) and the Revenue Appeals Division (RAD) are set to commence implementation of the Jamaica Business Taxation Reform (JAMTAX) programme this year. Forty million dollars has been earmarked for the undertaking in the 2014/15 Estimates of Expenditure, tabled in the House of Representatives on April 3. The…

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Businesses Urged to File for Employment Tax Credit

Local businesses and entrepreneurs are being urged to file and pay their monthly payroll statutory deductions on time in order to qualify for Employment Tax Credit. Director of Communications at Tax Administration Jamaica (TAJ), Meris Haughton, says Employment Tax Credit is an incentive designed to achieve greater compliance in the…

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Senate Makes Provision for Exporters to Pay Conch Levy in Instalments

The Senate passed the Conch (Export Levy) (2013 Conch Season) (Special Provisions) Act 2013 on December 20, to allow exporters to complete payment of the conch export levy in instalments. The Act permits exporters to complete payment of the export levy within three months of the date of submission of…

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Fourth Quarter Estimated Income Tax Payments Due Dec. 16

Tax Administration Jamaica (TAJ) is reminding operators of companies and self-employed persons that their 4th quarter estimated income tax for the year 2013 is due December 15. However because the due date falls on Sunday, the payment date has been extended to Monday, December 16. As TAJ continues to make…

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PSOJ Head Suggests Gov’t Retain Working Group in Tax Reform

Private Sector Organization of Jamaica (PSOJ) President, Christopher Zacca, is proposing that the Government give consideration to retaining the eight-member Incentives Working Group (IWG), which contributed to the development of the Omnibus Tax Legislation. This, he said, in order to involve team members in the full implementation of the Government’s…

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House Passes Omnibus Bills

The House of Representatives on Tuesday, November 19, passed the Omnibus legislation, which seeks to establish a transparent and coherent regime to govern all tax incentives. The Bills passed are the Fiscal Incentives (Miscellaneous Provisions) Act; and the Income Tax Relief (Large Scale Projects and Pioneer Industries) Act 2013. The…

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