Wednesday, April 24, 2024

ATM tax met with anger

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KINGSTON – Jamaicans yesterday reacted with anger to last Thursday’s announcement in parliament by Finance and Planning Minister, Dr Peter Phillips that new taxes will be slapped on Automated Teller Machine (ATM) withdrawals, as well as on all electronic banking transactions.
That anger will likely boil over later this week after more details emerge on the new taxes.
Phillips, in opening the 2014-2015 Budget Debate, announced the new levy on the use of ATMs, also called Automated Banking Machines (ABM).
The move is due to take effect June 1 and seeks to raise a portion of the overall $6.6 billion in additional taxes from a population that financial analysts have said is already over-taxed.
Some citizens interviewed by the Jamaica Observer said that they were not prepared to accept the latest tax. (Observer)

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