Jamaica economy: Fiscal deficit widens

Tax measures in the 2003/04 budget continue to be subject to changes. Following the replacement in April of the proposed 4% import levy, intended as a refundable prepayment of income tax, with a 2% non- refundable import levy, the finance ministry has made several changes to the general consumption...

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Bibliographic Details
Published inEIU ViewsWire
Format Newspaper Article
LanguageEnglish
Published New York The Economist Intelligence Unit N.A., Incorporated 02.10.2003
Subjects
Economic conditions
Economic indicators
News analysis
Jamaica
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Summary:Tax measures in the 2003/04 budget continue to be subject to changes. Following the replacement in April of the proposed 4% import levy, intended as a refundable prepayment of income tax, with a 2% non- refundable import levy, the finance ministry has made several changes to the general consumption tax (GCT) base. This had been expanded in April to several previously exempt items, but following public opposition was removed from prescription drugs, agricultural inputs and textbooks.