Four companies are currently vying to list on the junior arm of the Jamaica Stock Exchange (JSE) before the end of March in order to beat the closing of the tax-incentive window.
The change of the political administration, however, raises the issue of whether these companies now need to rush to meet that timeline. This, as the Jamaica Labour Party (JLP) has pledged to restore and continue the tax incentive in its manifesto and to do it immediately. It’s the No. 2 commitment on the JLP’s 10-point plan, right behind the ultra-popular promise to raise the ceiling on tax-free income to $1.5 million.
The JLP justifies the junior market subsidy as supporting job creation. The JSE welcomes the commitment to extend the window, saying it will result in additional listings while also boosting GCT and payroll taxes.
“I have no reason to doubt that they will keep their commitment,” said JSE general manager Marlene Street-Forrest in an interview with Sunday Business on Friday.
Published in the Gleaner
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