Jamaica private sector blasts new tax package
Associated Press
2013-02-18 05:03 AM
Jamaica's private sector is blasting the government for a "surprise announcement" of a supplementary $167 million tax package.

Most of the new taxes announced last week by Finance Minister Peter Phillips begin April 1, the start of the new fiscal year. The measures include hikes in stamp duty, dividend and education taxes.

On Sunday, the Private Sector Organization of Jamaica said they were disappointed that such a "massive package would be pushed on to the Jamaican people" without first consulting stakeholders.

Phillips says Jamaica is compelled to raise taxes as part of the actions demanded from the government ahead of finalizing a new deal with the International Monetary Fund.

On Friday, the IMF said it has reached a tentative agreement to authorize a $750 million deal for the debt-strapped country.

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