PM: Plans to Consolidate Payroll Taxes Far Advanced

Prime Minister Andrew Holness says the government is advanced with plans to consolidate the country’s various payroll taxes into a single tax deduction system.

The Prime Minister was speaking at the Jamaica Stock Exchange Regional Investments and Capital Markets Conference in Kingston on Tuesday.

At present, income tax, education tax, and contributions to the National Insurance Scheme and the National Housing Trust are deducted from salaries according to different percentage schedules.

It’s not immediately clear how the consolidation will be calculated.

The Prime Minister says the project will be streamlined by January next year.

Prime Minister Andrew Holness.