New tax regime for next fiscal year - PM

He said compliance will be a major factor of the new regime, given the low level of compliance from individuals and corporations. He said too many persons were getting away with non-compliance which is not only immoral, but places the taxation burden on those who pay, especially persons subjected to PAYE deductions.

Mr. Golding cited many problems that manufactures have to face, not the least of which is high energy costs. He said manufacturers would have to seek creative ways of producing more efficiently in order to reduce energy costs and their overall cost of production. He said new areas never before embarked on, would have to be explored.

He said the Economic Partnership Agreement had created a broad horizon in which Jamaican manufacturers could find a niche. Mr. Golding noted, however, that this would require the production of the right goods and services at the right price, adding that there was no room for products that do not meet international standards.

Mr. Golding said that in providing a meeting place for buyers and marketers, the JMA/JEA expo gives all stakeholders an opportunity to renew their commitment to manufacturing as an integral part of life. He said that in seeking to match producers with buyers, the expo would also facilitate a greater commitment to better manufacturing practices.

Minister of Industry, Commerce and Investment, Hon. Karl Samuda, who also spoke at the function, said the expo was a signal commitment to improving the competitiveness of Jamaican products. He expressed confidence in the leadership of the organizations, stating that the future of the sector was in goods hands.

Other speakers at the function included the Omar Azan, President of the JMA and Marjory Kennedy, President of the JEA. Over 200 exhibitors are showcasing a range of products and services at the event which continues at the National Arena until Sunday May 4th.