Tweet
Tax Expert Ethlyn Norton Coke is advising Jamaicans to brace for more increased fees.
Her comment comes in the wake of announced increases of between 80 to 380 per cent in passport fees.
Mrs Norton-Coke told The Gleaner Power 106 News this morning that the next two to three years will be a very difficult period for Jamaicans.
She said a $15 billion fall-off in government revenue since the start of the fiscal year has put pressure on the government’s cash flow.
According to Mrs Norton Coke with more than 50 per cent of Jamaicans outside the income tax net the country can expect a shift toward consumption taxes including user fees.
According to the tax expert revenues from income tax and other taxes can no longer support some government entities.
She said this has prompted agencies such as the Passport, Immigration and Citizenship Agency to charge economic fees in order to remain financially viable.
Mrs Norton-Coke further said a reduction in imports means that less General Consumption Tax is being collected at Customs.
Her comment comes in the wake of announced increases of between 80 to 380 per cent in passport fees.
Mrs Norton-Coke told The Gleaner Power 106 News this morning that the next two to three years will be a very difficult period for Jamaicans.
She said a $15 billion fall-off in government revenue since the start of the fiscal year has put pressure on the government’s cash flow.
According to Mrs Norton Coke with more than 50 per cent of Jamaicans outside the income tax net the country can expect a shift toward consumption taxes including user fees.
According to the tax expert revenues from income tax and other taxes can no longer support some government entities.
She said this has prompted agencies such as the Passport, Immigration and Citizenship Agency to charge economic fees in order to remain financially viable.
Mrs Norton-Coke further said a reduction in imports means that less General Consumption Tax is being collected at Customs.
Comment