Fifteen-thousand new taxpayers were added to the tax dragnet last year.
The Economic Programme Oversight Committee, EPOC, made the announcement today at it’s quarterly media briefing at JMMB’s head office in New Kingston.
Co-Chair of EPOC, Keith Duncan, credits the increase to the Tax Administration’s drive to improve tax compliance. He also says the economy is meeting all the targets set by the International Monetary Fund. And, Mr Duncan is confident the country will comfortably pass the next IMF review.
Mr. Duncan says the TAJ has managed to cut the rate of tax delinquency.
He says the best performing categories for last year included general consumption tax, income tax from companies and travel tax.
The EPOC Co-Chair says the increased tax collection also positively impacted Jamaica’s performance in other areas like the country’s Primary Surplus Target. He says that increased revenue has allowed the government more room to spend on necessary programmes in the areas of National Security, Infrastructure and Tourism.
Mr. Duncan says the government is also paying less interest on its debts.
He says the government will pass the next IMF review.