Tweet
The proposed reforms include a number of measures designed to redress this inequity while also simplifying the tax base and reducing the administrative burdens of compliance, the report signed by the heads of the eight organisations said.
Signing to the report on condition that the recommendations were accepted in their entirety were the:
• Private Sector Organisation of Jamaica (PSOJ)
• Jamaica Manufacturers’ Association (JMA)
• Jamaica Chamber of Commerce (JCC)
• Jamaica Exporters’ Association (JEA)
• Jamaica Bankers’ Association (JBA)
• Micro Small and Medium-Sized Enterprises (MSME) Alliance
• Insurance Association of Jamaica
• Jamaica Agro-processors Association
The report by the Private Sector Working Group, chaired by Joseph M Matalon, was essentially an updating of the work of the 13-member Tax Policy Review Committee appointed by the minister of finance which submitted its final report to the PNP Government of November 30, 2004.
Membership of the review committee included: Joseph M Matalon, chairman; Mark Golding, attorney-at-law and now justice minister; Velma Blake, deputy financial secretary; Dr Wesley Hughes, then director-general of the Planning Institute of Jamaica (PIOJ); Allison Peart of Ernst & Young; Lloyd Goodleigh, trade unionist and Ethlyn Norton-Coke, accountant/attorney (both now deceased).
In the lead-up to Thursday’s general election, a proposal by JLP Leader Andrew Holness that 118,000 Jamaicans earning below $1.5 million per year be exempted from income tax has sparked major controversy.
The proposal, which is part of Holness’s 10-point plan to sell the JLP to the electorate, has been described by Finance Minister Dr Peter Phillips as “unworkable” and risks derailing the economic reform programme under the International Monetary Fund (IMF).
Matalon and Golding now appear to have backtracked from their original position as contained in the Tax Committee report, now saying, like Phillips, that it could not work.
http://www.jamaicaobserver.com/news/...acktrack_52631
Signing to the report on condition that the recommendations were accepted in their entirety were the:
• Private Sector Organisation of Jamaica (PSOJ)
• Jamaica Manufacturers’ Association (JMA)
• Jamaica Chamber of Commerce (JCC)
• Jamaica Exporters’ Association (JEA)
• Jamaica Bankers’ Association (JBA)
• Micro Small and Medium-Sized Enterprises (MSME) Alliance
• Insurance Association of Jamaica
• Jamaica Agro-processors Association
The report by the Private Sector Working Group, chaired by Joseph M Matalon, was essentially an updating of the work of the 13-member Tax Policy Review Committee appointed by the minister of finance which submitted its final report to the PNP Government of November 30, 2004.
Membership of the review committee included: Joseph M Matalon, chairman; Mark Golding, attorney-at-law and now justice minister; Velma Blake, deputy financial secretary; Dr Wesley Hughes, then director-general of the Planning Institute of Jamaica (PIOJ); Allison Peart of Ernst & Young; Lloyd Goodleigh, trade unionist and Ethlyn Norton-Coke, accountant/attorney (both now deceased).
In the lead-up to Thursday’s general election, a proposal by JLP Leader Andrew Holness that 118,000 Jamaicans earning below $1.5 million per year be exempted from income tax has sparked major controversy.
The proposal, which is part of Holness’s 10-point plan to sell the JLP to the electorate, has been described by Finance Minister Dr Peter Phillips as “unworkable” and risks derailing the economic reform programme under the International Monetary Fund (IMF).
Matalon and Golding now appear to have backtracked from their original position as contained in the Tax Committee report, now saying, like Phillips, that it could not work.
http://www.jamaicaobserver.com/news/...acktrack_52631
Comment