Bureau of Standards to charge GCT for its services
Bureau of Standards Jamaica (BSJ) says all its services will now attract General Consumption Tax (GCT) as it is now a registered taxpaying agency.
The standards body itself began paying GCT to its suppliers last year but was unable to charge its own clients until it was duly registered by the tax authorities. This process has now been finalised, allowing the agency to add the tax to its services, starting Monday, March 21, 2016.
Chairman of the BSJ, Professor Winston Davidson told Gleaner Business that the move will also allow the agency to streamline its operating expenses, which spiked by $30 million from its own payment of GCT.
“The International Monetary Fund conditions require that GCT be paid. So we had to, in fact, do some back payment of GCT. This is just a continuation of the process,” Prof Davidson said.