BOLD & Essential: IMF Backs Income Tax Plan

The IMF has given the government’s income tax initiative a ringing endorsement!

The fund has described the move away from direct to indirect taxation as a bold and essential step.

The Government has faced fierce criticism from the Opposition for the 14-billion dollar tax package and the phased introduction of the tax break.

Addressing a joint media briefing at the Ministry of Finance Heroes Circle’s offices this afternoon – IMF Mission Chief to Jamaica, Dr. Uma Ramakrishnan, described the phased income tax initiative as bold and essential.

The IMF’s resounding endorsement could not have come at a better time for the Holness Administration.

During the budget debate underway in Parliament, former Finance Minister Dr. Peter Phillips and Opposition Leader Portia Simpson-Miller criticized the administration’s income tax initiative.

Our news center asked Dr. Ramakrishnan whether there are any lingering concerns by the IMF about the income tax break and the 14-billion dollar tax package.

Dr. Ramakrishnan noted that the IMF has long been advocating for a move away from direct taxation.

She says the Washington-based multilateral and Finance Minister Audley Shaw have been working closely to ensure a seamless implementation of the tax break initiative.

4 thoughts on “BOLD & Essential: IMF Backs Income Tax Plan

    1. JAY

      Indeed it should be interesting to here the critics now. I have a feeling what they will now say… but lets see.

  1. justice

    I hear from a little birdie that he is gone into hiding, until the endorsement blows off or until the 9 day wonder expires !!!!!!!!!!!!!!!

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