Finance Minister Fayval Williams in Parliament on Tuesday
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The previously announced reduction in the general consumption tax on electricity is due to take effect on May 1, Finance Minister Fayval Williams confirmed on Tuesday.
Prime Minister Dr Andrew Holness had announced the pending cut from 15 per cent during the governing Jamaica Labour Party's Annual Conference last November.
Mrs Williams, opening the annual Budget Debate in Parliament on Tuesday, said the move to restructure GCT on electricity bills was part of efforts to reduce electricity costs in Jamaica.
"Today, Madam Speaker, we are pleased to announce that the commitment to reduce the GCT rate on electricity to seven per cent and eliminate the 150kwh threshold for postpaid residential customers is on track for implementation by JPS starting on May 1st, 2025."
Additionally, she announced that "for those postpaid residential customers who consume 250kwh or less,
they will see a rebate of seven per cent and a three per cent subsidy for a total of 10 per cent."
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