August-September 2014 | BusinessWorld | 13
streng thening social protection and
enhancing efforts to provide support for
those aiming to move from welfare to work;
improving the efficiency of the tax system,
including by offering amendments to the
General Consumption Tax Act to broaden
the tax base and eliminate the zero rating of
government purchases under the GCT;
creating a dedicated office to modernize the
tax and customs administration and
implementing pilot programs to automate
the tax and customs administration systems;
increasing the efficiency of the public sector
while improving the quality of the delivery of
public services; and strengthening the legal
and regulatory framework for the non-bank
financial sector, and implementing the
Banking ServicesAct, adopted in June.
“These preliminary understandings are
sub j e c t to approva l by the IMF 's
Management and Executive Board,” Martijn
said.“Consideration of the fifth review of
Jamaica's IMF-supported program under the
EFF could take place by the IMF's executive
board in September. Upon approval, SDR
45.95 million would be made available to
Jamaica.”
