Jamaica MOF Presents 2025-2026 Budget Speech

The Jamaican Ministry of Finance and the Public Service March 11 presented the 2025-2026 budget speech. The speech describes measures to: 1) amend and implement income tax relief measures for large-scale projects and pioneer industries; 2) regulate virtual asset service providers (VASPs) to ensure compliance with Financial Action Task Force (FATF) recommendations and counter-terrorism financing (CFT) requirements; 3) increase the general consumption tax (GCT) exemption to J$15 million (US$93,521), from J$10 million (US$62,347), for micro, small, and medium enterprises (MSMEs); 4) introduce a two-year accelerated capital allowance for commercial buildings, plants, and machinery, including automatic data processing equipment; 5) reduce ...