Government moves to restrict granting of waivers

KINGSTON, Jamaica, CMC – The Jamaica government says it will soon move to restrict the discretionary power of the finance minister to grant waivers.
Finance and Planning Minister Dr. Peter Phillips says a comprehensive review of the discretionary power of the Minister of Finance to grant waivers has been completed, with a view to improving the efficiency of the tax system.
“We have agreed that there should be a sharp reduction and ultimately elimination of ministerial discretion in this regard,” he said, noting that by year end, there should be preparation of omnibus incentive legislation and a Charities Act that should form the framework in this regard.