An International Monetary Fund (IMF) team recently visited Jamaica to review its IMF-supported program under the Extended Fund Facility (EFF).

The IMF mission highlighted Jamaica’s tax reforms and noted several legislative amendments which have bolstered tax administration. The IMF mission also noted that Jamaica intends to adopt fundamental tax reform before the next fiscal year, with an Omnibus Incentive Tax Act and a Charities Bill.

Tax reform is expected to broaden the tax base and reduce tax rates, simplify the tax system, and support growth in Jamaica.