President of the Private Sector Organisation of Jamaica (PSOJ), William Mahfood, has urged the Government to consider implementation of its plan to abolish income tax for workers earning $1.5 million or less annually on a phased basis.
Stating that the view was his personal opinion, Mahfood reiterated the PSOJ’s position of a wholesome tax reform, a day after Minister of Finance and the Public Service Audley Shaw announced that funds earmarked to follow through on an election commitment were no longer available to the new Jamaica Labour Party (JLP) Administration.
The JLP, during its campaign leading up the February 25 General Election, said it would provide an income tax break as one of the initiatives highlighted in its 10-point plan for economic growth and prosperity. This was outlined in its manifesto. Under the arrangement, income tax will be removed for people earning a gross annual salary of $1.5 million or less.