THE MINISTRY of Finance and Planning yesterday failed for the third time to honour a commitment to inform stakeholders in the gaming sector about which sections of the industry would attract taxation.
"We have not signed off on it (a decision) as yet and we want to make sure that it is 100 per cent," Cordel Bra-ham, director of public relations in the Fi-nance Ministry, told The Gleaner yesterday.
He was unable to say when the commitment would be honoured.
STATE MINISTER'S RESPONSE
Responding to reports that taxation would be imposed on punters' winnings in the gaming industry instead of the 15 per cent General Consumption Tax (GCT) on both sales and winnings as was proposed in April, Fitz Jackson, Junior Finance Minister, told The Gleaner on Tuesday that: "Where it (the tax) will be lessened, it will be pointed out tomorrow (Wednesday)."
He also said the Ministry was "candid" enough to acknowledge that no one would welcome the tax, but said stakeholders would understand the "circumstances" which made it necessary.
In presenting the 2003/04 Budget in the House of Represen-tatives on April 17, Dr. Omar Davies, Finance and Planning Minister, announced that GCT would be imposed on the gaming industry.
His announcement was met with widespread criticism and horse racing interests complained that they were not in a position to absorb any further taxation. Under the current regime in the racing industry, seven per cent of revenues from racing sales are paid over to the Government.
The two lottery entities The Jamaica Lottery Company and Supreme Ventures Ltd. were given a four-week moratorium for payment of the tax, which should have come into effect on May 1.
