Jamaica Considering Group Treatment for GCT Purposes

According to recent reports, Jamaica's House of Representatives is currently debating a bill that would implement a group accounting regime for the country's general consumption tax (GCT), a value added tax. Under the regime, a representative entity of the group would be appointed to file returns and pay GCT on behalf of group members engaged in making taxable supplies. Transactions between group members would not be subject to GCT.

Although the appointed group representative is responsible …