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JPS President and CEO Michel Gantois
The president and CEO of the Jamaica Public Service Company (JPS) has suggested a suspension of the fuel tax to ease the pressure on Jamaican consumers who have been faced with high electricity bills following the recent surge in oil prices.
Michel Gantois on Wednesday raised concern about the negative effects of Jamaica's fuel tax regime.
He pointed out that taxes make up 16 per cent of customers' electricity bills, while JPS and other producers of electricity are taxed "at the highest possible corporate income tax rate [of] more than 33 per cent".
"All these taxes are either passed through or they affect the electricity tariff," he argued, adding that the government is in a position to address the matter.
"To a large degree, JPS is a tax collecting agent for the government. Now suspending or reducing taxes during the current crisis or even longer, if possible, would help customers, especially the most vulnerable ones," he suggested.
Mr. Gantois was speaking at a Jamaica Chamber of Commerce meeting.
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