Jamaica to Tax Bank Withdrawals
amaica’s government is planning a new measure that would impose a levy on withdrawals from banks.
Part of a revenue-raising scheme for a government that continues to be in a serious debt situation, the levy “will be chargeable on all withdrawals from deposit-taking institutions by way of electronic banking, point of sale transactions, cheques, automated banking machine (ABM), automated teller machine (ATM), or over the counter and internet transfers,” according to Finance Minister Dr Peter Phillips.