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In these tough times, why such big waivers by the finance ministry?
Mark Wignall
Thursday, March 24, 2011
In August last year, Key Motors boss Desmond Panton was arrested and charged with several counts of evasion of customs duties and taxes, taking steps to defraud the government of duties, and unlawful removal of goods. His car dealership along Hagley Park Road in St Andrew was also shuttered by the Customs Department.
A few days after, Panton made good and Commissioner of Customs Danville Walker confirmed the payments of approximately $43 million but said that "additional payments due are still being worked out".
GOLDING... has made statements on waivers
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Not having heard anything further about the matter which was widely publicised, it was safe to assume that the issue was settled.
In light of lingering economic problems from the global recession and conditionalities resulting from the IMF engagement last year, the Ministry of Finance announced: "The GOJ has approved a freeze of and reduction in all discretionary waivers that may be granted by the minister of finance and the public service (MFPS), effective August 1, 2010. The freeze of all discretionary waivers granted by the MFPS means that no new discretionary waiver categories will be considered or approved between August 1, 2010 and the date of adoption http://jamaica-gleaner.com/gleaner/2...business3.html of a new Tax Waiver/Incentive Policy and Strategy. The reduction in all discretionary waivers granted by the MFPS means that the consideration of discretionary waiver applications between August 1, 2010 and the date of adoption of a new Tax Waiver/Incentive Policy and Strategy will be done within the context of achieving a significant reduction in the total value of waivers granted."
The prime minister himself has made statements on these waivers. How therefore can we explain the $322-million waiver granted to various entities by the government after that announcement? According to the Ministry of Finance and the Public Service's website, $321.7 million in waivers was issued.
Read more: http://www.jamaicaobserver.com/colum...#ixzz1HZBrdMEs
Mark Wignall
Thursday, March 24, 2011
In August last year, Key Motors boss Desmond Panton was arrested and charged with several counts of evasion of customs duties and taxes, taking steps to defraud the government of duties, and unlawful removal of goods. His car dealership along Hagley Park Road in St Andrew was also shuttered by the Customs Department.
A few days after, Panton made good and Commissioner of Customs Danville Walker confirmed the payments of approximately $43 million but said that "additional payments due are still being worked out".
GOLDING... has made statements on waivers
1/1
Not having heard anything further about the matter which was widely publicised, it was safe to assume that the issue was settled.
In light of lingering economic problems from the global recession and conditionalities resulting from the IMF engagement last year, the Ministry of Finance announced: "The GOJ has approved a freeze of and reduction in all discretionary waivers that may be granted by the minister of finance and the public service (MFPS), effective August 1, 2010. The freeze of all discretionary waivers granted by the MFPS means that no new discretionary waiver categories will be considered or approved between August 1, 2010 and the date of adoption http://jamaica-gleaner.com/gleaner/2...business3.html of a new Tax Waiver/Incentive Policy and Strategy. The reduction in all discretionary waivers granted by the MFPS means that the consideration of discretionary waiver applications between August 1, 2010 and the date of adoption of a new Tax Waiver/Incentive Policy and Strategy will be done within the context of achieving a significant reduction in the total value of waivers granted."
The prime minister himself has made statements on these waivers. How therefore can we explain the $322-million waiver granted to various entities by the government after that announcement? According to the Ministry of Finance and the Public Service's website, $321.7 million in waivers was issued.
Read more: http://www.jamaicaobserver.com/colum...#ixzz1HZBrdMEs