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. Jamaica Set To Post Fiscal Surplus This Year

Jamaica Set To Post Fiscal Surplus This Year

by Mike Godfrey, Tax-News.com, Washington

26 August 2014


Jan Kees Martijn, the International Monetary Fund's mission chief for Jamaica, has said the territory is on track to achieve an "impressive" surplus of 7.5 percent of gross domestic product (GDP) this fiscal year, and has recommended further reforms.

The IMF highlighted the need to improve the efficiency of the tax system, including through amendments to the General Consumption Tax (GCT) to broaden the tax base. It suggested that government procurement should be brought within the tax net.

Other recommendations included the need to create a dedicated office to modernize tax and customs administration, including by automating processes.

The comments were made during the fifth review of progress under the IMF's Extended Fund Facility. On approval of the latest review, a further USD71m will be made available to Jamaica to support its fiscal reform efforts.

TAGS: tax | gross domestic product (GDP) | International Monetary Fund (IMF) | Jamaica | Banking | Tax

To see today's news, click here.

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 











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 »