Just over 137,000 Jamaicans no longer paying income tax
Approximately 137,000 Jamaicans are no longer paying income tax as a result of the increase in the threshold by the Government.
The Ministry of Finance made the disclosure in a letter to Parliament’s Public Administration and Appropriations Committee (PAAC).
PAAC Chairman, Dr Wykeham McNeill, said the finance ministry informed that 137,051 persons on PAYE earned between the old ceiling and the new threshold.
The income tax threshold moved from $592,800 to $1.5 million.
The PAAC chairman said the ministry informed that approximately 78,485 persons benefited from the full tax relief of $18,000.
He said the ministry noted that only persons earning above $1.5 million received the relief.
The PAAC wrote to the finance ministry for clarification on the number of Jamaicans who benefited from the Government’s personal income tax break.
Moving the personal income tax threshold was an election promise by the ruling Jamaica Labour Party that won the 2016 elections.