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Holness promises income tax threshold increase

 

Prime Minister Andrew Holness says Jamaicans can expect an increase in the income tax threshold for pay-as-you-earn workers.

Discourse surrounding an increase to the threshold came to the fore last year September following the People's National Party's annual conference when that party's president, Mark Golding, proposed a doubling of the tax floor.

But Mr Holness, Leader of the governing Jamaica Labour Party, who was encircled by party supporters during a tour in Clarke's Town Trelawny Saturday, labelled the PNP's proposal hypocritical.

He characterised the PNP's proposal to raise the existing $1.5 million threshold to $3 million as insincere, given the lack of support the JLP received when it initially announced the threshold increase in 2016.

In keeping with a campaign promise by the JLP ahead of the 2016 general election, the income tax threshold was raised in 2017 from $592,800 to $1.5 million.

Finance Minister Dr Nigel Clarke also accused the PNP last year of seeking to imitate the government's flagship policy through this proposal.

Dr Clarke said the government was already reviewing the threshold.
 
Last May the Caribbean Policy Research Institute suggested the threshold be moved to $2.2 million.



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