Governmental budgets ■
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By Antillean, Thursday, December 17, 2009
On the eve of the Christmas holiday, the Jamaican government has announced new taxes which will become effective from January 1, 2010.
Speaking in parliament today, Finance Minister Audley Shaw revealed that General Consumption Tax (GCT) will increase from 16.5 per cent to 17.5 per cent, with the aim of raising JA$3.6 billion for the government.
The Special Consumption Tax on cigarettes will also be increased from JA$8,500 per 1,000 sticks to JA$10,500 per 1,000 sticks to raise JA$1.41 billion, while the controversial gas tax will be increased to 15 per cent to raise JA$ 9.4 billion.
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