The Private Sector Organisation of Jamaica (PSOJ) yesterday commended the Government for its tabling of two tax-incentive bills in the House of Representatives on Tuesday.
In a release, the PSOJ also commended Finance Minister Dr Peter Phillips, his team, and the joint public-private Incentives Working Group "for their tireless work in facilitating the preparation of the bills".
Said PSOJ President Christopher Zacca: "This model of public-private cooperation lays a solid foundation for the Social Partnership Agreement going forward, and we are eager to see this approach implemented in other spheres of society."
The PSOJ said the tabling of the bills marked a significant step towards laying the foundation for a more competitive society, "where the playing field is levelled for all market players, as it removes the discretion over tax incentives from the political process".
Said the PSOJ: "This means that tax incentives will no longer be on the basis of access to the political directorate but, rather, meritocracy. The completion of the overall tax reform is, therefore, critical to creating an enabling environment for all market players, with a level playing field."
The organisation said it was now awaiting the tabling of the remaining customs and stamp-duty legislation and was looking forward to the overall tax reform, which is to take place by the first quarter of 2014.