The Government has targeted agriculture, manufacturing, tourism, healthcare, and the creative industries.
A Government scheme that allows companies to import certain items duty-free in areas such as agriculture and tourism generated benefits totalling $1.4 billion for the period 2021 - 2023, Industry, Investment and Commerce Minister Aubyn Hill says.
Senator Hill made the announcement during his contribution to the 2023/24 State of the Nation Debate in the Senate on Friday.
The Productive Inputs Relief-Fiscal Incentive Regime scheme facilitates duty-free importation of specific items intended for productive use, as well as income tax relief to spur expansion of productive activities in the various sectors.
The Government has targeted agriculture, manufacturing, tourism, healthcare, and the creative industries.
The incentives incorporate, among other things, relief on customs import duties, normally charged when importing goods into the country; additional stamp duties, usually applied at the port on certain products; and corporate income tax, generally levied on the profit income of businesses.
Source: Gleaner
Welcome to the official website of the Ministry of Industry, Investment and Commerce.
The Ministry of Industry, Investment and Commerce is described as Jamaica's "Business Ministry." It's mandate is to lead the development of policies that will create growth and jobs, while achieving social inclusion and consumer protection. The Ministry, working its stakeholders is primarily responsible for business policy development, monitoring and evaluation, while giving direction and oversight to a cluster of implementing departments and agencies.
We have, therefore, placed much energy and enthusiasm into the development of this website to provide timely information on the Ministry, our agencies and programmes.
4 St. Lucia Avenue, Kingston 5, Jamaica
Telephone: (876) 968-7116
Fax: (876) 960-7422
Email: ps_office@miic.gov.jm