MSME Alliance Wants Tax Exemption on Profits for Start-ups

President of the MSME Alliance, Antoinette Hamilton, is calling for the introduction of a tax exemption on profits for entrepreneurs during their first two years of operation.

Her call comes in response to Prime Minister Andrew Holness’ announcement of the ASPIRE Jamaica initiative, a policy framework aimed at driving economic growth.

Speaking at Jamaica House on Tuesday, the prime minister said the administration has plans to expand the threshold at which small businesses pay taxes. He also mentioned plans to consolidate some tax types.

Ms. Hamilton says the proposed changes can’t come soon enough.

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

Meanwhile, the Jamaica Employer’s Federation, JEF, has welcomed the plans outlined by the government to boost the country’s economic growth in an inclusive and sustainable way.

The JEF president is Wayne Chen.

Chen says he’s keen to see the plans outlined by the prime minister come to fruition.

Wayne Chen, president of the Jamaica Employer’s Federation.