Fri | Mar 23, 2018

IMF Jamaica Calendar

Published:Wednesday | August 17, 2016 | 12:00 AM

IMF-Jamaica Calendar

August 2016

n 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.

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

n Under the Banking Services Act, the code of conduct on consumer related matters will be issued.

n Regulations pertaining to agent banking will be tabled.

September 2016

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

* Thirteenth review and end-June 2016 performance criteria.

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

October 2016

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

November 2016

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

December 2016

n Fourteenth Review and end-September 2016 performance criteria.

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

* The suite of regulations and rules that will comprise the regime for financial holding companies and consolidated supervision will be tabled.

March 2017

n 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.

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