Markets

Jamaican Senator Proposes Tax on Remittances to Fund Education

By: Caribbean Journal Staff - October 2, 2012

Above: Kingston

By the Caribbean Journal staff

Jamaican Senator Floyd Morris is proposing a nearly 5 percent tax on all remittances entering the island as an additional funding source for education.

“This is likely to yield $100 million or J$9 billion,” he said. “The proceeds must be used to fund educational activities being implemented by the National Education Trust.”

The proceeds from the tax would go toward financing physical infrastructure improvements and expansion of activities, providing cash for the Students’ Loan Bureau.

They would also finance the administrative expenses of the NET, which works with the private sector and NGOs to raise funds for the development of educational infrastructure.

Because the tax would target members of Jamaica’s diaspora, he said chairman of the fund should be selected from Jamaica’s overseas community.

“It is my belief that if we can put in place this mechanism, we would be well on our way to solving the age-old problem of funding for education,” he said.

Remittances to Jamaica totaled almost $2 billion last year.

Popular Posts

The 10 Best Overwater Bungalows in the Caribbean, From Aruba to Belize

Overwater villas at Caribbean resorts aren’t just a novelty — they’re also among the most luxurious and beautiful accommodations you can stay in. And while all of the bungalows perched above the waves have their charms, some stand out among […]


The 10 Best Luxury All-Inclusive Resorts in the Caribbean, From Antigua to Jamaica

all-inclusive hammock cove

All-inclusive resorts are more popular than ever, particularly in the Caribbean. The all-inclusive concept just keeps winning over travelers, who have been drawn to the ease, comfort and convenience of the concept. But the biggest thing within the space isn’t […]


The Bahamas’ Atlantis Paradise Island Just Completed a $150M Renovation

walking on the beach in nassau

A new eatery by Michelin-star Chef Michael White. A new-look casino. State-of-the-art guest rooms and the Caribbean’s first Shake Shack.  The Bahamas’ Atlantis Paradise Island resort has officially completed a $150 million resort-wide renovation, a significant project that included a […]


Related Posts jamaica montego bay

LATAM Is Adding More Nonstop Flights to Montego Bay, Jamaica

Jamaica’s record-breaking tourism growth keeps heating up — and not just from traditional source markets like the United States.  That includes a growing number of travelers from still-untapped markets like Latin America.  And new nonstop flights on major carrier LATAM […]


From Montego Bay to Ochi, Why to Visit a Sandals in Jamaica Right Now

sandals south coast with trees

Dunn’s River Falls. The Pelican Bar. Seven Mile Beach. Rick’s. The White River. Rose Hall. Jamaica never stops calling.  Whether you’re looking for the bustle and energy of Montego Bay, the laid-back cool of Negril or the abundant natural beauty […]


American Airlines Is Adding Daily Flights to This Jamaica Hotspot 

american airlines jamaica nonstop

Secluded coves, sparkling turquoise water, the birthplace of James Bond. Ocho Rios, Jamaica has always been one of the island’s most sought-after destinations, from its venerable luxury resorts to its popular all-inclusives.  But it’s never had a nonstop flight from […]


SUBSCRIBE!

Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.


No. Thank You