KINGSTON, Jamaica — The Senate Friday approved the controversial Revenue Administration (Amendment) Act, just two days before its deadline as an important bench mark agreement with the International Monetary Fund (IMF).
Government senators toed the party line, to ensure that it met the June 30 deadline, although accepting that there were areas of concern in the bill.Minister of Justice, Senator Mark Golding, who piloted the measure in the Senate, admitted that there was merit in some of the objections raised by the Opposition.However, he suggested that the Senate pass the amendments to ensure that the IMF deadline is met, and then there could be a review of the provisions at a later date.Golding said that meeting IMF’s deadline was a structural benchmark which the country could not afford to miss, as it could become the basis for the government failing the first quarterly test, which covers the period April-June, and affect the country’s ability to make future draw-downs.“We cannot afford to take that risk. We believe that it is in the best interest of Jamaica that we pass this bill, today,” he insisted.The Opposition offered to give support, if the Government would set timelines for reviewing the bill as soon as possible. But, Golding said that he could offer no timelines, only an assurance that the provisions would be reviewed.The Opposition challenged the government on five of the 15 clauses, calling for a “divide” vote, but lost each time as members voted strictly along party lines, 9-4 in favour of approving the amendments.The Opposition had raised concerns about some provisions of the bill, both in and out of Parliament, since it was tabled in mid-May. It was passed in the House of Representatives on June 19 via a 20-13 government majority.The bill allows for the exchange of tax information on individuals and companies between Jamaica and the Organisation for Economic Cooperation and Development (OECD) which groups powerful developed countries, and widens the powers of the Tax Commissioner General in accessing information on alleged tax dodgers in Jamaica to enforce compliance in all sectors of the economy.— Balford HenryLike our Facebook page https://www.facebook.com/jamaicaobserverFollow us on Twitter https://twitter.com/JamaicaObserverHOUSE RULES
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Senate approves controversial tax bill
