Jamaica PM maintains ‘no new tax’ promise amid BPO success
MONTEGO BAY, JAMAICA — Prime Minister Andrew Holness reassured investors that his administration would hold off on introducing new taxes for as long as possible to provide a stable business environment.
This assurance was announced to hundreds of potential investors at the Montego Bay Convention Centre and is a strategic move to ensure confidence in the country’s booming Business Process Outsourcing (BPO) sector.
Holness highlighted the calming effect of the government’s steady tax policy on the business sector.
“We have had no new taxes levied on Jamaica’s businesses or households since this Administration. And that has given a very calm and stable and predictable runway and confidence for businesses to plan and execute,” the PM stated.
Jamaica recently hosted the Outsource to Latin America and the Caribbean Global Digital Services Summit (O2LAC), attended by more than 600 representatives from 32 countries. It is a crucial platform for Jamaica to showcase its potential in the global digital services sector.
Tariq Alli, the top Caribbean executive for the Inter-American Development Bank (IDB), underscored the strong performance of Jamaica’s BPO sector, noting its workforce of 100,000 and an investment influx of US$1.3 billion over the last 15 years.
With the prime minister’s promise of no new taxes, the stage is set for further growth and investment in the country’s thriving BPO industry.