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Ministry examining concerns on new commodities legislation
SHAW&hellip;&nbsp;we have not made it a secret that we are moving from the direct taxation of personal income taxes towards indirect taxation<strong> Photo: JIS</strong>
Latest News, News
May 31, 2018

Ministry examining concerns on new commodities legislation

KINGSTON, Jamaica — The Ministry of Industry, Commerce, Agriculture and Fisheries (MICAF) says it has taken note of recent “adverse” comments regarding the Jamaica Agricultural Commodities Regulatory Authority (JACRA) Act, an agency of the ministry.

In a statement today responding to calls from the Jamaica Chamber of Commerce (JCC) to put the new legislation on hold, the ministry said it is “taking particular care and due diligence in examining the issues raised”.

According to JCC, the taxes levied on commodities under the JACRA have not been properly thought out and puts pressure on the manufacturing industry, as well as farmers.

The legislation, which took effect on April 1, provides for new or increased taxes on agricultural commodities including pimento, cocoa, coconut, turmeric, coffee, and ginger, both for imports of finished goods and raw materials, as well as exports of such products.

The ministry said Portfolio Minister Audley Shaw has assigned a working group to carefully assess and review all aspects of the JACRA Act and its Regulations as well as the concerns raised.

The review is scheduled to be completed soon and, at that time, the ministry said it will provide a comprehensive statement on the matter.

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