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Jamaican Revenue Measures for 2014/15

13 May 2014

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Approved Changes

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Jamaica

Jamaica's Minister of Finance and Planning presented to parliament a set of revenue measures on 17 April 2014 in order to raise JMD 6.7 billion to finance the 2014/15 budget. Certain measures were withdrawn and additional measures were proposed on 29 April. The measures are as follows: Unified tax rate on alcoholic beverages The rates of special consumption tax on alcoholic beverage will be unified at JMD 1,120 per liter of pure alcohol from 22 April 2014. The implementation of the unified rate is delayed by one month for the tourism industry, which enjoys reduced rates. Increased asset tax Asset...