tax-breaks

Opposition Insists an Early ‘$1.5m Tax Break’ Impact Study was Needed

Members of the Public Administration and Appropriations Committee (PAAC) says a study of the impact the government’s $1.5-million Tax Break should have been provided to the country before the measure was implemented.

Chairman of the PAAC, Dr. Wykeham McNeill, was among those who expressed that view at last week’s meeting of the parliamentary committee.

He was joined by PAAC member, Fitz Jackson, who also argued that the Tax Committee of Parliament should’ve been used.

They were reacting to a study by the Planning Institute of Jamaica, PIOJ.

The study requested by the PAAC in January concluded that the overall impact of the tax break has been positive.

Financial Secretary, Everton McFarlane, says the study is a step forward but needs improvement. He says a comprehensive benefit incidence analysis is needed.

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