KINGSTON, Jamaica, CMC – Members of the opposition Jamaica Labour Party (JLP) walked out of Parliament during the debate on a J$15.9-billion (One Jamaica dollar = US$0.01 cents) tax package presented by government, less than 24 hours after it asked nationals to support stringent measures in order for the island to seal a multi-million dollar Stand By Agreement with the International Monetary Fund (IMF). Finance Minister Dr. Peter Phillips in a surprise announcement said the revenue measures would include an increase in the education tax, taxes paid at ports of entry, General Consumption Tax (GCT) on telephone calls and phone cards, customs administration fees on all imports excluding charities and the bauxite sector, local stamp duty and transfer tax rates, property tax and a surtax to the taxable income of large unregulated companies. He also introduced new taxes on the gaming sector with popular games such as Lotto, Super Lotto and Cash Pot. Some of the increases will take effect as early as March 1.
