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PSOJ president says impending bank tax ‘ill-advised’

Published:Tuesday | April 22, 2014 | 10:01 AM

Christopher Zacca, the president of the Private Sector Organisation of Jamaica, Christopher Zacca says the impending tax on withdrawals from deposit-taking institutions is ill-advised.

In a post on Twitter last night, Zacca said the tax will discourage individuals from joining the formal banking system.

He says the tax comes at a time when the economy is under pressure and will put a higher cost on transactions.

The PSOJ president says the move will be a hindrance to growth.


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