GCT proposal to be reviewed today by Economic Programme Oversight Committee
The Economic Programme Oversight Committee meets today to review the proposal to add GCT to several items which are now non-taxable.
There have been reports that as part of the proposal GCT may be imposed on gasolene.
The Jamaica Gasolene Retailers’ Association (JGRA) has said an added tax on gas could cripple the industry.
Last week the chairman of the Economic Programme Oversight Committee, Richard Byles said his group must first assess the proposal before determining if it is workable.
The Committee, which comprises other private sector representatives, was set up to ensure that the Government honour its commitment under the deal with the Washington-based International Monetary Fund (IMF).
Under Jamaica’s agreement with the IMF, the Government has committed to looking at spreading GCT to many more products and services.
It has also agreed to set aside $123 billion for the next fiscal year to pay down on Jamaica’s debt.
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