⁠⁠MSME Alliance Wants GCT Reduction on Electricity Extended to Small Businesses

President of the MSME Alliance, Antoinette Hamilton, is calling on the government to consider reforming the proposed reduction in the General Consumption Tax, GCT, on electricity bills to include small and medium-sized enterprises.

Prime Minister Andrew Holness announced on Sunday that his administration intends to lower the GCT on electricity from 15-percent to 7-percent by March, 2025.

Antoinette Hamilton, president of the MSME Alliance. She was speaking on Nationwide at Five on Monday.

Finance minister, Fayval Williams, says the government will be giving up approximately $1.7 billion in revenue to facilitate the reduction in GCT on electricity bills.

She told Nationwide News that while the focus is on residential customers of the Jamaica Public Service Company, the government is willing to explore options to benefit the business community. 

Fayval Williams, finance minister.

Meanwhile, managing director at Home Choice Enterprise Limited, Kareema Muncey, says there needs to be a review of the GCT Act.

Miss Muncey says on balance, operators of small and medium-sized businesses are getting a raw deal from the government.

\

Kareema Muncey, managing director, Home Choice Enterprise Limited.