Finance Minister Dr Nigel Clarke opens the Budget Debate.
Finance Minister Dr Nigel Clarke has just concluded the opening of the 2024/25 Budget Debate.
Clarke announced an increase in the income tax threshold from $1.5 million to $1.7 million and a new reverse tax credit, which will see Jamaicans who earn $3 million and under receive a tax credit of $20,000.
There will also be an increase in import duties from US$50 to US$100 and an increase in personal effects following air travel from US$500 to US$1,000.
The minister also announced that the Andrew Holness-led government will introduce Unemployment Insurance to Jamaica to benefit the people of Jamaica.
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