Prime Minister Andrew Holness says his administration’s move to retain the incentives offered under the Junior Stock Exchange, JSE, is a sign of its seriousness about achieving significant economic growth.
The extension of the incentives means that companies which list on the exchange will enjoy a ten year tax incentive which had originally been slashed by half by the previous administration.
The former PNP administration had scheduled some incentives under the JSE to end effective yesterday March 31.
Prime Minister Holness says the JLP administration’s move to restore the full 10-year benefits offered by the Junior Stock Exchanged is intended to reward persons who’re willing to take risk in business.
The extension of the incentives means that companies which list with the Junior Stock Exchange will pay no corporate tax for the first 5 years and will only pay half the rate for the remaining years.
Prime Minister Holness addressed a function held today in Downtown Kingston to mark the anniversary of the Junior Stock Exchange.
The Prime Minister says steps will be taken to prevent big businesses from exploiting opportunities presented by the Junior Stock Exchange.
General Manager of the Junior Stock Exchange Marlene Street Forrest also addressed this morning’s function and hailed the retention of the Junior Stock Exchange incentives .