Nearly half of businesses polled in the latest Quarterly Survey of Business Confidence in Jamaica believe they are unfairly taxed.
The results of the survey were released on Tuesday by the Jamaica Chamber of Commerce.
Managing Director of Market Research Services Don Anderson, who conducted the survey, said when taxes levied on businesses in Jamaica were compared to those in other Caribbean markets, the majority of firms were of the opinion that taxes in Jamaica were unfair.
“Quite understandably, 47 per cent of the businesses interviewed felt that the taxes imposed on them are unfair … Thirty-eight 38 per cent believed it’s fair. It’s something that we will continue to watch ….."
The survey also sought to find out whether businesses expected taxes to remain unchanged.
“We wanted to know whether people felt that there are likely to be further taxes imposed. Fifty-three per cent of businesses hope that there will be no change in the taxes that are imposed on them over the next year. However, 38 per cent expect an increase and eight per cent, expect a decrease,” Anderson said.
CEOs and senior officers of 100 Jamaican firms island-wide participated in the survey related to current conditions and future expectations of the economy.