Sat | Aug 19, 2017

IMF Jamaica Calendar

Published:Wednesday | July 27, 2016 | 7:00 AM

IMF Jamaica Calendar

July 2016

* The regime for financial holding companies and consolidated supervision are expected to be completed.

August 2016

* Additional qualified staff to be recruited to assist in the strengthening of the macro-fiscal capacity of the Ministry of Finance and the Public Service.

* Most imprest accounts will be terminated with the expansion and improvement of the Treasury Single Account at the Bank of Jamaica.

September 2016

* New performance criteria under the IMF programme for September 2016 are proposed.

* Thirteenth review and end-June 2016 performance criteria.

* Following up on the entity-by-entity review of all grandfathered tax incentives, the Fiscal Impacts Report will be produced.

October 2016

* Completion of staffing of Tax Administration Jamaica as a semi-autonomous revenue authority.

November 2016

* A new procurement manual will be prepared with the assistance of the Inter-American Development Bank.

December 2016

* Fourteenth Review and end-September 2016 performance criteria.

* Phase III of the Customs Act will be tabled in parliament.

March 2017

* Efficiency of the large taxpayers' office (LTO) to be improved by (i) maintaining e-filing and on-time filing rates of 90 per cent for LTO clients for major taxes and (ii) increasing the number of comprehensive audits to 90 per year.

* Increase the number of completed post-clearance audits to 60 a year.