Helene Davis Whyte, President, Jamaica Confederation of Trade Unions - file photo Helene Davis Whyte A proposal by the Jamaican Government to phase-in the five per cent pension contribution by public sector workers, effective April 1, has been welcomed by the Jamaica Confederation of Trade Unions (JCTU). Finance Minister

Following a meeting at the Ministry of  Finance yesterday the insurance industry is expressing optimism that changes will be made to the plan to impose General Consumption Tax (GCT) on group health insurance. The talks involved insurance executives and technocrats in the Ministry. The meeting was convened for the executives

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