PSOJ disappointed with gov't tax package

The Private Sector Organisation of Jamaica (PSOJ) says it is disappointed with the Government's $16 billion tax package announced last Tuesday.

In a release today, the PSOJ says although it expected a tax package in the new fiscal year, the raft of taxes introduced came as a surprise to its members and was done without consultation with it and other stakeholders.

It says the announced tax measures are contrary to the proposed comprehensive tax reform.

The PSOJ says the Government should urgently review the taxes on input under the new waiver caps imposed under the IMF agreement as it is likely to result in the closure of critical industries and higher unemployment.

It says the Government should also review its policy on the non-imposition of tax on CARICOM imports, as taxes on Jamaican manufacturers are increasing.

The Christopher Zacca-led organisation argues that given the sacrifices Jamaicans will have to make, the Government must show how it intends to cut the cost of Government.

It adds that the Government also needs to outline a post-IMF economic plan to cushion the recessionary impact of the actions under the IMF agreement.

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