Tag: aishedes

June 12, 2021

Senate Passes Omnibus Tax Legislation

first_imgThe Senate on Friday, December 6, passed the Omnibus legislation which seeks to establish a transparent and coherent regime to govern all tax incentives.The Bills passed are the Fiscal Incentives (Miscellaneous Provisions) Act; and the Income Tax Relief (Large Scale Projects and Pioneer Industries) Act 2013.The Fiscal Incentives (Miscellaneous Provisions) Act 2013 sets out the reforms to be carried out to corporate tax including the introduction of an Employment Tax Credit (ETC), changes to the capital allowance regime, and revision of provisions governing the utilisation of tax losses.The Bill also deals with “grandfathering” and transitional arrangements relating to change from the old to the new incentives regime.In terms of the Income Tax Relief (Large-scale Projects and Pioneer Industries) Act, it sets out provision for the designation of large scale projects and pioneer industries that would qualify for tax credit under the Income Tax Act.Other elements of the framework for the new Omnibus Incentive Regime namely, the Customs Tariff (Revision) (Amendment) Resolution 2013; and Stamp Duty (Amendments of Schedule) Order 2013, were approved in the House of Representatives.In his remarks, Minster of Justice, Senator Mark Golding, noted that the Omnibus legislation represents the most far reaching set of revisions of Jamaica’s tax incentive systems.“The principal philosophy behind the Government’s tax reform in relation to incentives is based on the view that a comprehensive reform of Jamaica’s many tax incentive regimes requires implementation of a more accessible, broad based competitive tax regime, which can act both as a catalyst for investment and economic growth and which applies across all economic sectors,”  Senator Golding said. “We are working and I don’t think it’s helpful to make this particular legislative exercise as being the totality of tax reform whether of substantive tax law or of administrative issues. That is not what this is about. But it is a very major piece of the tax reform, the incentive system,” Senator Golding added.The passage of the Bills forms part of the Government’s economic reform programme, and is one of the pivotal structural benchmarks of the administration’s four-year Extended Fund Facility (EFF) negotiated with the International Monetary Fund (IMF), aimed at reducing the country’s debt and spurring economic growth. RelatedDebate on CCJ Bills Begins December 3 RelatedHouse Passes Bill to Provide Easier Access to Loans for Businesses Advertisements Story HighlightsThe Senate on Friday, December 6, passed the Omnibus legislation which seeks to establish a transparent and coherent regime to govern all tax incentives.Minster of Justice, Senator Mark Golding, noted that the Omnibus legislation represents the most far reaching set of revisions of Jamaica’s tax incentive systems.He noted that a new tax incentive scheme is being designed to eliminate the existing sector based incentive programme and to transition to a generally competitive business tax regime.center_img Senate Passes Omnibus Tax Legislation ParliamentDecember 7, 2013Written by: Latonya Linton He noted that a new tax incentive scheme is being designed to eliminate the existing sector based incentive programme and to transition to a generally competitive business tax regime.“The Jamaican economy has not been well served by the existing regime of sector based incentives.  The consensus is that such incentives may have been partly responsible for Jamaica’s lacklustre record of growth by encouraging the misallocation of limited economic resources in our country,” Senator Golding said.“The fundamental shift in policy direction calls for a general competitive regime of corporate taxation, in other words, one that provides broad base incentives for investments and employment creation,” he added.He also explained that the Omnibus Tax legislation will ensure that an equitable rules-based system is created for all players within the industry and not just those who have “access to ministerial decision-makers.”For her part, Senator Sophia Frazer-Binns welcomed the passage of the legislation. “I believe that the implementation of these legislations coupled with the tangible encouragement that the government has been giving to the Micro, Small and Medium-sized Enterprises, that we can only have and experience more growth and development so that generations to come will be much better off,” Senator Frazer Binns said.Opposition Senator, Dr. Nigel Clarke noted that while the bill may improve on the current tax incentive system “it certainly does not transform” the tax system.“The tax incentive regime is not complete until the administrative weakness and complexes are addressed,” he stated.In his response, Senator Golding agreed that “there was more work to be done” to improve the system. RelatedSenate to Offer Sign Language Interpretation Come January FacebookTwitterWhatsAppEmail last_img read more

February 27, 2021

Volunteers Clean Up Sandbar for Eagles Raising Young There

first_imgAddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMore“About 20 people gathered Saturday morning on the bank of the Monongahela River near Pittsburgh to turn a messy sandbar into a paradise” for the bald eagles.The eagles have been using the sandbar to stage their hunting and teach their young how to hunt and fish.(Source: The Pittsburgh Gazette)Photo: Catching a Fish, by Joby Joseph (CC license) AddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMorelast_img

September 26, 2020

Dominica to elect first female president

first_img Share Sharing is caring! Share Share 29 Views   4 commentscenter_img LocalNews Dominica to elect first female president by: – September 4, 2013 Tweet Mrs Boyd-Knights is also the chairperson of the Commonwealth Women Parliamentarians-Dominica branchDominica could have its first female president by October of this year.Prime Minister Roosevelt Skerrit confirmed on Wednesday morning that current Speaker of the House of Assembly, Alix Boyd Knights is his Cabinet’s nominee for the position.Mr Skerrit and the Opposition Leader, Hector John met on Monday, 2nd September to discuss the presidency as President Eluid Williams’ stint ends next month.“I can confirm that I held consultations with the Leader of the Opposition on the issue of the vacancy in the Office of President and the Cabinet took a decision to nominate Mrs Alix Boyd-Knights…to serve as president for a five year term,” Mr Skerrit said. Mr John declined to comment on the consultations pending discussion with his party officials. It is not clear at this point whether the UWP has identified or named a candidate for the presidency.Mrs Boyd-Knights is aslo the chairperson of the Commonwealth Women Parliamentarians-Dominica branch and has been an advocate for women’s participation in polictics.Mr Williams was sworn in as Dominica’s 7th president on 7th September, 2012 after Dr Nicholas Liverpool demitted office a year earlier due to ill-health.It was announced then that President Williams would serve the remainder of Dr Liverpool’s term.Dominica Vibes Newslast_img read more

September 23, 2020

Reports Indicate the Indians Are Closer Than Ever to Moving SS Francisco Lindor

first_imgIf you’ve purchased Indians merchandise featuring All-Star shortstop Francisco Lindor on it to give as a Christmas gift, you might want to save your receipt.Indications from various reports late on Thursday indicate that the Indians, despite the claim that Lindor is expected to be the team’s opening day starter at shortstop, are set to deal the 26-year-old and are fielding ‘final’ offers for him. Ken Rosenthal of The Athletic stated on the site late Thursday that talks about Lindor ‘appear to be reaching a critical stage.’The report went on to say that the Indians are telling teams in the mix for the shortstop that they ‘want each team’s best and final offers so they can make an assessment over the weekend.’Click HERE to Continue Reading! Related TopicsfeaturedFrancisco LindorIndians Matt Loede has been a part of the Cleveland Sports Media for over 21 years, with experience covering Major League Baseball, National Basketball Association, the National Football League and even high school and college events. He has been a part of the Cleveland Indians coverage since the opening of Jacobs/Progressive Field in 1994, and spent two and a half years covering the team for 92.3 The Fan, and covers them daily for Associated Press Radio. You can follow Matt on Twitter HERE.center_img Matt Loedelast_img read more

August 30, 2020

Texans’ Yates trying to follow Flacco’s rookie script in postseason

first_imgIt was only three years ago that Joe Flacco found himself in a similar position to Texans rookie quarterback T.J. Yates, who faces the biggest challenge of his infant career in taking on the Baltimore Ravens in the divisional round this Sunday.Preparing to play his first road playoff game against the Miami Dolphins, a game in which the Ravens won 27-9, Flacco wasn’t caught up in the moment of playing in the postseason a year after starring for the University of Delaware. Instead, the nonchalant rookie was simply focusing on what he needed to do to prepare to get a victory.“I wasn’t really thinking about playing on the road at the time; it was kind of just what we had to do,” Flacco said. “It was the position we were in, and we had to go get a win. There’s a lot to be made about playing at home [versus] playing on the road. But, the bottom line is when you’re out on the field and when you’re out there running plays and trying to execute them well, you’re not really thinking about, ‘Man, I’m not at home today. I don’t know if I’m going to be able to hit this pass as easily.’”Unlike Flacco, who was a first-round pick and had a full season of starts under his belt by the time the Ravens traveled to Miami in the first round of the playoffs, Yates was forced into this position after injuries to starting quarterback Matt Schaub and backup Matt Leinart. And though he helped guide the Texans to a 31-10 win over the Cincinnati Bengals in the wild-card round last Saturday, the fifth-round pick went from being inactive every week to the Texans’ starting quarterback in a matter of a week in late November.To his credit, the North Carolina product hasn’t crumbled under the pressure of taking the reins of an AFC South champion team that had Super Bowl aspirations before Schaub was placed on injured reserve with a foot injury. Playing in a pro-style offense under Tar Heels coach Butch Davis in Chapel Hill, Yates has a solid grasp of Houston’s system in a limited amount of playing time. Even if his skill set falls short of Flacco’s abilities, listening to teammates describe his demeanor makes you think of the Baltimore signal caller.“He’s very confident in what he can do,” Houston wide receiver Andre Johnson said. “If something is bothering him, he does a great job of hiding it. He doesn’t show it. He doesn’t show when he’s frustrated or anything. He just stays calm.”That resiliency will be tested on Sunday more than at any point at any level of his football career as Yates tries to become the first rookie quarterback to defeat the Ravens in Baltimore since Arizona’s Jake Plummer did it at Memorial Stadium on Nov. 23, 1997.On that day, a 22-year-old Ray Lewis stared across the line of scrimmage at Plummer, just like he will at Yates at M&T Bank Stadium on Sunday where the Ravens haven’t lost all season as they try to advance to the AFC championship game for just the third time in franchise history. The vaunted Baltimore defense will undoubtedly try to rattle the 24-year-old by bringing pressure early and often.Holding up against a Cincinnati defense in the friendly confines of Reliant Stadium is one thing, but standing up to a Ravens defense whose play rises to another level at home is another.How much can the unit affect the young quarterback, who was holding a clipboard on the sideline when the teams met back in mid-October?“I don’t know,” Lewis said. “You can probably only tell by how hard you hit him, if you get to him early. You really can’t tell. We understand that they have a rookie quarterback, but we also understand that they are the No. 2 rush offense in football.”Of course, the 36-year-old linebacker is exactly right. Since taking over the starting job due to attrition, Yates has been more caretaker and less playmaker as the Texans have relied even more heavily on their running game. Playing the final six games of the regular season, the 6-foot-4 quarterback threw only 134 passes with three touchdowns and three interceptions.Continue >>>last_img read more