1. Cabinet to adopt a decision to: Met
1. a. Cease the granting of discretionary waivers, excluding: (i) those granted to charitable organizations and for charitable purposes; (ii) those required to satisfy the GoJ’s already existing contractual or legal obligations; and (iii) waivers up to a ‘de minimis’ cap of J$10 million per month (for any that are not covered by the exceptions under (i) or specifically exempted in the Technical Memorandum of Understanding (TMU).
1.b. Cap total discretionary waivers, excluding those for charitable organizations and for charitable purposes at J$80 million per month. Waivers for charitable organizations and for charitable purposes will be capped at J$250 million on a monthy basis.
1.c. Not approve any new waivers or renew any waiver category (unless required under existing legislation) or other tax incentive and not to amend existing legislation to generate further tax expenditures until the Omnibus Incentive Law has come into effect.
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