Aug 05, 2021 Last Updated 1:14 PM, Aug 4, 2021

The Minister of Finance & the Public Service

The Hon. Nigel Clarke, DPhil., MP, is Jamaica's Minister of Finance and the Public Service and is Member of Parliament for St Andrew Northwestern. ...

Financial Secretary

Ms. Darlene Morrison is currently Jamaica’s Financial Secretary. As Financial Secretary, Ms. Morrison is the technical and administrative head of the Ministry of Finance and the Pu...

State Minister in the Ministry of Finance and the Public Service

The Hon. Marsha Smith, MP was born and raised in the parish of Saint Ann. She was educated at Brown’s Town Primary School, Westwood High School, Brown’s Town Community College, the...

New Conditions to Govern the Granting of Waiver

Since August 1, 2010, the Government of Jamaica has refrained from promoting or tabling in Parliament the introduction of new statutory waivers or extension of existing waivers. This Notice is an extension/ continuation of this strategy to develop a long term waiver policy and strategy. The following are interim measures that will be enforced until this long term policy and strategy has been finalized.

  1. All discretionary and statutory waivers granted will be published on the MOFPS’s Web Page, on a monthly basis, ad perpetua, with detailed information on: beneficiary sectors and entities, type of tax and amount waived by each tax, and the description of the type of merchandise, good or service that was subject to waiver under any tax.This data will be published no later than the end of the month immediately following the month being reported.

  2. Effective November 15, 2010:

    1. The Government establishes a freeze on all discretionary waivers of all taxes and import duties, excepting those for:
      1. Humanitarian purposes and charitable organizations.

        The following organizations or entities will be the ones considered for tax relief under humanitarian and charitable purposes.

        • Food for the Poor
        • Missionaries for The Poor
        • Churches and service clubs that receive donations to benefit the community as a whole
        • Foundations set up for charitable objects
        • Jamaica Red Cross
        • School for the Blind
        • Centre for the Deaf
        • World relief organizations that are intended to benefit communities as a whole.
      2. Unspecified waivers up to a monthly maximum equivalent to one third of the average non charitable waivers approved between May 1st and July 31st2010.
    2. The extension or granting of waivers is prohibited when the amount of tax waivers requested and the fiscal revenue foregone is not known.
  3. Effective November 15, 2010, all waivers for import duties should strictly define the specific tariff heading, value of import duties and the time horizon for their use.

  4. Effective November 15, 2010, the MOFPS will suspend the duty regime/concessions on the rental vehicle industry (u-drive) and the tourism sector. Any waiver for any type of tax for this sectors or activity would have to be subject to the cap agreed on in 2a(ii) above.
    1. Effective November 15, 2010, only farms or farmers listed with the Rural Agricultural Development Authority (RADA), or designated as prescribed agricultural activity as provided for under Section 36 (d) of the Income Tax Act, can apply for motor vehicle concessions (i.e. panel vans and pick-ups (not exceeding two (2) tons); trucks (exceeding two (2) tons); tractor heads and trailers). There will be a limit on the number of motor vehicle concessions which can be accessed in any given year and only once every five years according to farm size i.e. small farms (1 to 10 acres) can access 1 motor vehicle every 5 years; medium-sized farms (11-50 acres) can access 2 motor vehicles every 5 years; and large farms (over 50 acres) can access 3 motor vehicles every five years.
    2. Economic activity that wil benefit from tax relief relate to the following:
      • Growing of food crops
      • Seed growing
      • Growing of trees for the purpose of producing timber
      • Growing of tobacco
      • Fishing and fish farming
      • Breeding of beef and dairy cattle, pigs, sheep, horses and goats
      • Horticulture &bull
      • Production of fertile eggs for hatching
      • Production of table eggs
      • Apiculture (bee farming)
  5. Effective November 15, 2010, credit for GCT on capital goods in excess of one hundred thousand dollars will be claimed over twelve months as a credit on the entities’ return.
  6. Effective November 15, 2010, no new tax holidays will be granted.
  7. Effective December 1, 2010, there will be no amnesty/ waiver on tax arrears, penalties and interest charged except those specifically provided for by legislation and existing agreements.
  8. Effective January 1, 2011, interest rates charged on outstanding principal income tax payments will be reviewed annually to coincide with the tax year and adjusted based on the domestic commercial bank overall average weighted loan rate plus a premium.
  9. Effective March 31, 2011, there will be no renewal of the waivers for the upfront payment of GCT under the Modernization of Industry Program.

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