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BRIEF - New tax could hurt investment

Published:Wednesday | May 30, 2012 | 12:00 AM

 

Telecommunications firm Digicel has warned the Government that its proposed new tax measures on the telecoms sector would severely restrict further investment in Jamaica by the affected operators and hamper their ability to assist in the development of the economy, ultimately harming businesses and consumers.

In a release yesterday, Digicel argued that the benefits Jamaica has seen from the vibrant telecoms sector "include inward investment, increased innovation, healthy competition, job creation, business opportunities, better standard of education and many more socioeconomic benefits - all of which contribute to economic growth".

Digicel Jamaica CEO Mark Linehan said: "Digicel is strongly urging the Government to reconsider the imposition of these excessive taxes on the telecoms sector as these proposed tax measures will have a grossly negative impact on the economy."