Despite tabling a J$16 billion tax package, Finance Minister Dr Peter Phillips is indicating that there could be new taxes in the upcoming budget - but there is no need to fear.
"There is no need to fear the budget, there is no need to brace on account of the budget that is forth coming…. we don't have any plans for major tax increases , if there is anything there may be tidying up measures but we no plans for major increases , there may be none , there may be minor tidying up issues to correct what you might call certain imbalances."
The Finance Minister who made the statement at Wednesday's weekly Post Cabinet Press briefing, did not reveal what new taxes might be included in the budget.However, indications are that the government could make changes the Customs Administration Fee (CAF).
Opposition's reaction
Meanwhile, the opposition Jamaica Labour Party (JLP) is warning the government against imposing a new tax package .
Robert Montague, Party Chairman said today that news reaching the JLP, is that there are discussions about a possible new round of tax increases to be tabled in the new budget.
He said any such move would be vehemently resisted by the Opposition.
Montaque argued, that the people of Jamaica still have not digested the last tax package which is having a devastating an the people and the economy. He added that the rapid slide of the dollar means that many Jamaicans are faced with significant hardships, not seen since the 1970's.
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