CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. IMF Mission To Jamaica Highlights Tax Reforms

IMF Mission To Jamaica Highlights Tax Reforms

by Mike Godfrey, Tax-News.com, New York

26 August 2013


An International Monetary Fund (IMF) mission to Jamaica highlighted some tax reforms which the country is implementing.

The IMF mission visited Jamaica during August 14-23, 2013 to conduct discussions on the first review of Jamaica’s IMF-supported program under the Extended Fund Facility (EFF).

The mission found that several legislative amendments have been adopted to bolster tax administration, and the resources of the large taxpayers office have been increased.

It also noted that Jamaica intends to adopt fundamental tax reform before the next fiscal year, designed to broaden the tax base, simplify the tax system, reduce tax rates, and reduce economic distortions and support growth. Tax reform is programmed to commence with an Omnibus Incentive Tax Act and a Charities Bill, to be tabled in parliament before end-September. The tax incentives legislation is expected to replace and streamline the many existing sectoral incentive schemes by a rules-based regime for limited tax incentives.

TAGS: tax | tax incentives | International Monetary Fund (IMF) | Jamaica | legislation | tax rates | tax reform

To see today's news, click here.

Leave a comment

Read our Posting Guidelines

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 

Log into Tax-News+
Not registered yet? Find out about our daily news alert service »

 Email: 
 Password: 

Login »

Forgotten your password?







Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »