Economic Framework & Initiatives To Improve Governance

[Lazie]

1. Establishment of a Central Treasury Management System (CTMS): the Ministry of Finance and the Public Service has reviewed the current system of managing public funds and considers it to be dysfunctional, resulting in ministries, departments and agencies; including para-statal entities holding large pools of funds on the one hand while on the other hand the ministry of finance and the public service (MFPS) are borrowing at large costs to the government.
   In order to correct this wasteful and untenable situation the government will establish a central treasury management system (CTMS) during this financial year. This new aspect of financial management involves a holistic approach.
   
   
2. 
   Establishment of the Forensic Data-Mining Intelligence Unit (FDIU): this Unit has been established to identify a wide cross-section of self-employed persons. The focus of this unit cannot be over emphasized – the Tax Administration will be putting the spotlight on tax cheats. Everyone must pay their fair share – no more, no less.
   
   
3. REVENUE PROTECTION DIVISION
   The Revenue Protection Division has been reestablished to plug revenue leakage at Customs, Inland Revenue and other departments of government. The government is serious about protecting the revenue in the general welfare of the people of Jamaica.
   
   

We'll watch and see.

[Mosiah]

Good move!

Now they won't have to dip into NHT funds!