Tweet
Minister of Finance and the Public Service, the Hon Audley Shaw, says that it is irresponsible to suggest that the Government has had nothing to do with the success of Jamaican athletes.
"It is not right. I want to say to the sports people who are doing well and earning money, contribute your little income tax, so that we can help other children come up and be stars, as well," Mr. Shaw told Wednesday's opening session of the Jamaica Association of Young Professionals' (JAYP) Leadership Conference, at the Jamaica Pegasus Hotel, New Kingston.
He was responding to what he said was a "disappointing" statement made recently by "a member of the track and field community" that the Government has not invested tangibly in Jamaican athletes.
Although the Minister called no name, it was obvious that he was responding to the recent statement made by MVP Track and Field Club founder/director/coach, Stephen Francis, that the Government has not invested tangibly, but has benefited tremendously from the exploits of the athletes.
Francis, speaking at the CAST/UTech Alumi Power Breakfast last week Thursday, was reported as saying that the relationship should be "symbiotic and not parasitic", and advocated income tax exemptions for the athletes.
But, Mr. Shaw said that while the private sector has supported the annual Boys and Girls Champs, the Government has put a lot of money into it. He said that Governments, past and present, have supported the development of sports and the athletes through the budget, as well as the Sports Development Foundation and the CHASE Fund.
"It is irresponsible for that person to say that Government has nothing to do with the success of our sports people all over the world," he said.
Mr. Shaw also used the opportunity to congratulate world 100 and 200 metres record holder, Usain Bolt, for setting a good example in terms of payment of income tax from his earnings.
"My Director General at Tax Administration said to me recently, 'Mr. Shaw, whenever you get a chance congratulate Usain Bolt, because he files his returns and he has paid taxes on the income he has earned.' If Usain Bolt can do it, then everybody else should follow his example," the Minister added.
(more)
Taxes..2
The Income Tax Act requires persons earning above the threshold of $320,736 to pay 25% on the additional income. The Taxpayer Audit and Assessment Department (TAAD) has written a number of athletes about outstanding income tax, and meetings are being held with them to discuss the matter.
Mr. Shaw said that he dreams "of the day when we can reduce overall personal income taxes", as well as the day when every Jamaican "will feel a sense of duty and patriotism" in making their income tax contributions.
The Leadership Conference, which addresses corporate challenges through effective leadership, continues Thursday morning, with Minister of Education, the Hon. Andrew Holness, delivering the opening address at ten o'clock.
http://www.jis.gov.jm/justice/html/2...INCOME_TAX.asp
"It is not right. I want to say to the sports people who are doing well and earning money, contribute your little income tax, so that we can help other children come up and be stars, as well," Mr. Shaw told Wednesday's opening session of the Jamaica Association of Young Professionals' (JAYP) Leadership Conference, at the Jamaica Pegasus Hotel, New Kingston.
He was responding to what he said was a "disappointing" statement made recently by "a member of the track and field community" that the Government has not invested tangibly in Jamaican athletes.
Although the Minister called no name, it was obvious that he was responding to the recent statement made by MVP Track and Field Club founder/director/coach, Stephen Francis, that the Government has not invested tangibly, but has benefited tremendously from the exploits of the athletes.
Francis, speaking at the CAST/UTech Alumi Power Breakfast last week Thursday, was reported as saying that the relationship should be "symbiotic and not parasitic", and advocated income tax exemptions for the athletes.
But, Mr. Shaw said that while the private sector has supported the annual Boys and Girls Champs, the Government has put a lot of money into it. He said that Governments, past and present, have supported the development of sports and the athletes through the budget, as well as the Sports Development Foundation and the CHASE Fund.
"It is irresponsible for that person to say that Government has nothing to do with the success of our sports people all over the world," he said.
Mr. Shaw also used the opportunity to congratulate world 100 and 200 metres record holder, Usain Bolt, for setting a good example in terms of payment of income tax from his earnings.
"My Director General at Tax Administration said to me recently, 'Mr. Shaw, whenever you get a chance congratulate Usain Bolt, because he files his returns and he has paid taxes on the income he has earned.' If Usain Bolt can do it, then everybody else should follow his example," the Minister added.
(more)
Taxes..2
The Income Tax Act requires persons earning above the threshold of $320,736 to pay 25% on the additional income. The Taxpayer Audit and Assessment Department (TAAD) has written a number of athletes about outstanding income tax, and meetings are being held with them to discuss the matter.
Mr. Shaw said that he dreams "of the day when we can reduce overall personal income taxes", as well as the day when every Jamaican "will feel a sense of duty and patriotism" in making their income tax contributions.
The Leadership Conference, which addresses corporate challenges through effective leadership, continues Thursday morning, with Minister of Education, the Hon. Andrew Holness, delivering the opening address at ten o'clock.
http://www.jis.gov.jm/justice/html/2...INCOME_TAX.asp
Comment