Fans On Facebook

Featured Business

St. Vincent: Young Island Retains …….

St. Vincent: Young Island Retains …….

Private, romantic Young Island Resort in St. Vincent and the Grenadines has retained hospitality marketing specialists MP&A Digital & Advertising as its agency of record. The full-service marketing agency is charged...

Bolt to launch fifteen restaurants in UK

Bolt to launch fifteen restaurants in UK

Usain Bolt is set to open 15 restaurants in the UK serving classic Jamaican dishes and “burgers à la Usain”.

Adam Stewart Receives Jamaican National …

Adam Stewart Receives Jamaican National Award for Contribution to Tourism

Adam Stewart (right) Deputy Chairman and Chief Executive Officer of Sandals Resorts International receives the Order of Distinction (Commander class), for his outstanding service to tourism and the hotel sector...

Featured Artiste

Soca Music's Jade Lopez Resurfaces with …

Soca Music's Jade Lopez Resurfaces with Major Motivational Triumph

Persistence is a hell of a thing. One entertainer’s undying passion and his heritage have fueled what will likely be a long and prosperous career in music. Trinidad and Tobago’s Jade...

Ricky T and Jah Cure team up for “Freaky…

Ricky T and Jah Cure team up for “Freaky Girls” remix

It has been more than a year now that “Freaky Girls” from Saint Lucia’s Ricky T has dominated fetes, events and airwaves in all corners of the globe including the...

Nassy represents for Tobago Tourism with…

Nassy represents for Tobago Tourism with latest track

The brand new musical offering by budding artiste Nassy entitled “D Tourist” has become the latest viral sensation to come out of the twin island republic of Trinidad & Tobago....

Live Traffic Feed

Exchange Rates Today

Wednesday, 01 December 2010 09:35

Increased alcohol tax for Jamaicans… Government to spend less Featured

Jamaica’s Finance Minister Audley Shaw has announced an increase in the tax on some alcoholic beverages in Jamaica.

A single Special Consumption Tax (SCT) rate will be applied based on the alcohol content at the rate of $960 per litre of pure alcohol.

This increase will apply to alcoholic beverages, vodkas, beers, stouts, wines, tonic wines, liqueurs, whiskey, gin, brandy and overproof rum among others.  The tax on tobacco he says will also be increased.

Meantime the Government is planning to spend $262 million less than it originally proposed when it presented the $503.9 billion budget in April.

Finance minister Audley Shaw, has tabled the first supplementary estimates in parliament showing that the Government was now planning to spend $503.7 billion dollars this financial year.

In a juggling act, the Government will be cutting just over $2 billion from the recurrent side of the budget while adding $1.7 billion to the capital side.

The Government is also banking on net savings of $6 billion as a result of the Jamaica Debt Exchange (JDX).

A little less than $1.4 billion is also to be transferred from the Ministry of Finance’s contingency provisions to meet payments of arrears in salaries to certain public sector groups.

The Ministry of Transport and Works will receive an additional $1.5 billion to deal with the effects of Tropical Storm Nicole.

 

Login Form