SHAW… the current public sector pension arrangement is unsustainable as only a small portion of public sector workers make contributions DEBATE started yesterday in the House of Representatives on changes to the Pensions (Public Service) Act (2016) to have all public sector employees contribute to their pension payments, which

Audrey Tugwell Henry senior general manager of NCB. NATIONAL Commercial Bank (NCB) announced yesterday that it will be suspending, with immediate effect, charges applied to local and foreign currency accounts classified as dormant. “… While they are suspended, we will review our current processes and determine how we can

Minister of Finance and the Public Service, Audley Shaw (left), shares a light moment with Chairman of the Development Bank of Jamaica (DBJ), Christopher Zacca, at a consultation to discuss the DBJ/World Bank Environmental and Social Management Framework Policy, at The Jamaica Pegasus hotel, today. KINGSTON, Jamaica (JIS) — Minister

Opposition Spokesman on Finance Dr Peter Phillips is of the view that the Jamaican economy will not achieve high rates of economic growth unless the country addresses the problems stemming from social and economic inequality. In his presentation to the Budget Debate in Gordon House yesterday, Phillips acknowledged that the

Opposition Spokesman on Finance Dr Peter Phillips has described as "pernicious", the new tax on group health insurance premiums. Noting that Jamaica's health system is grossly inadequate to provide proper services to citizens, Phillips argued that no government in the past has ever taxed health insurance premiums. He said the

Richard Byles is stepping down as president and chief executive officer of Sagicor Group Jamaica Limited at the end of this month and will be replaced by Christopher Zacca, the Jamaica Observer learnt yesterday evening. Byles was not available for comment last evening, and Zacca, when contacted, said he had

BYLES… here is a product that is good for our workforce [so] why are we taxing it? GOVERNMENT’S plan to impose General Consumption Tax (GCT) on group health insurance premiums to help fill the $13.5-billion gap in the national budget, created by the increase in the income tax threshold,

The Insurance Association of Jamaica (IAJ) has added its voice to those that are cautioning the Government against imposing a General Consumption Tax of 16. 5 per cent on group health insurance premiums as part of its tax package to fill the $13.5 billion shortfall in the 2017/18 budget. “The

KINGSTON, Jamaica — Jamaicans will have to brace for increases in the price of gasoline, alcohol, and motor vehicle licensing as early as next week. Finance Minister Audley Shaw today announced an increase in Special Consumption Tax (SCT) on petrol as well as other tax hikes during the opening

It appears that the Government of Jamaica will not be rolling back the General Consumption Tax (GCT) on group health insurance. Finance Minister Audley Shaw was asked on Monday morning to respond to comments by Richard Byles, Chief Executive Officer of the Sagicor Group, that the tax will result in