Minimum Business Tax yields less revenue than projected

The Government of Jamaica has collected less revenue than it expected from the recently introduced Minimum Business Tax.

The total collected so far is $278 million, instead of the $300 million dollars projected.

The Minimum Business Tax, which took effect on April 1 this year, applies to certain companies and individuals.

They include entities registered in Jamaica, individuals operating a trade, profession, vocation or business; and who satisfy a gross revenue threshold.