Several measures announced by government during budget debate now in effect
Several measures announced by the government in the recent budget debate came into effect today, April 1.
These are an increase to the income tax threshold, an increase to the duty-free threshold for personal items imported into Jamaica and an increase in the duty-free threshold for personal items brought in through the airport during travel.
Minister of Finance Dr. Nigel Clarke made the announcements during his budget presentation last month.
The income tax threshold moves from $1.5 million to $1.7 million.
The duty-free threshold for personal items imported doubles from US $50 to US $100, and the duty-free threshold for personal items taken in through the airport during travel increases from US $500 to US $1000.
Dr. Clarke said the implementations are a fulfilment of a commitment made in 2019 by the government to review and modernize Jamaica Customs.
Meantime, the increase to the income tax threshold is a fulfilment of a commitment made by Prime Minister Andrew Holness.
The Prime Minister during campaigning for the local government election earlier this year dubbed the move 1.5 2 point O.
0 Comments