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IMF Jamaica Calendar

Published:Wednesday | October 12, 2016 | 12:00 AM

IMF Jamaica Calendar


October 2016


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


- Execution of transfer pricing implementation strategy to begin.

- Complete drafting of regulations to implement the Special Economic Zone Act.

- Commence hiring of the Special Economic Zone Authority's management team.

- Cash transfers for intra-government transactions, which can be replaced by journal vouchers, will be eliminated.

- Bank of Jamaica will start equalising the reserve requirements for foreign currency and domestic currency deposits in the banking system.


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.

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

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.