According to Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, no new taxes will be introduced to finance the Government’s $1 trillion budget for the upcoming fiscal year.
“We have not introduced any new taxes for the people of Jamaica,” and the eighth year, “where we have had no new net taxes,” said the Minister.
On the other hand, Dr. Clarke said the Government will be giving up $160 million in general consumption tax (GCT) based on policy changes to facilitate the importation of horses, sheep, pigs, and goats by the Ministry of Agriculture and Fisheries over the next five years to revitalize declining stocks and preserve food security.
“These policy changes… will likely generate substantially more and support domestic economic activity,” he said.
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Edited by Jesus Chan
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