One week before Christmas  the Bruce Golding led Administration have announced a multi-million dollar tax package, which will see consumers having to pay tax on even the basic food items. In 2-weeks Jamaicans will pay more for tax at checkout counters as the increase in General Consumption Tax (GCT) becomes effective January 1, 2010. The tax has increase from 16.5% to 17.5%. The Golding’s third tax package in a year is expected to find consumers digging deeper in their pockets to pay more for fuel, electric and cigarettes. Jamaicans will have to find a total of JA$21.8 billion.

New Taxes

$Billion
Increase in the Standard Rate of GCT 3.6B
Expansion of the GCT Base 6.2B
Removal of the Exempt GCT Status of Electricity 1.2B
Re-Introducation of the Ad Valorem Component of the SCT 9.4B
Increase in SCT on Cigarettes 1.41B
Total $21.81B
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