The Incorporated Masterbuilders Association of Jamaica says the proposed changes to the contractors levy announced by the Minister of Finance should help to revive the construction sector.
A statement from the Association said it has been lobbying for the amendments since its inception in 1985.
It added that the policy shift makes the levy an equitable tax and the resulting effect on contractors' cash flow will help to resuscitate the local construction industry.
The Association also pointed to the need for contractors to be given the same preferences as farmers in the importation of pickups which it says are vital equipment in the construction industry.
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