Sat | Dec 2, 2023

JMA concerned over COMPLANT tax break

Published:Thursday | May 31, 2012 | 5:45 PM

The Jamaica Manufacturers’ Association says it is deeply concerned about the implications of waivers afforded to Pan-Caribbean Sugar Company Limited the local subsidiary of COMPLANT international.

COMPLANT is receiving 20-year tax breaks on general consumption tax (GCT), corporate income, withholding tax, customs duty and stamp duty or transfer tax.

The JMA says it notes that that fertilizer was listed as one of the goods eligible for waivers though there is already an established manufacturer of this product in Jamaica.

It says the government has agreed for complant to sell its imported fertilizer, and this could mean the closure of another manufacturing facility in Jamaica.

The JMA says while it is aware that incentives are utilized by Governments across the world to attract investment, it should be ensured that it is not to the detriment of those who have already invested millions in the challenging field of manufacturing.