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NCBJ Unveils Newest Certification Product

The National Certification Body of Jamaica (NCBJ), on Tuesday (November 17), unveiled its newest certification product – the ISO 22000:2018 Food Safety Management System (FSMS).

The Standard, which was launched virtually by Industry, Investment and Commerce Minister, Hon. Audley Shaw outlines the requirements that stakeholders along the food chain can incorporate in their operations to help in ensuring they have an effective system that provides safe foods for consumers.

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Revenues Up for April to September

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says preliminary numbers for the six-month period ending September 30 show that overall revenues were $8 billion or three per cent higher than budgeted in the First Supplementary Estimates.

The figures, however, were 18.8 per cent lower than for the corresponding six months of last year.

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Farmers’ Groups Urged to Take Advantage of Rural Economic Development Initiative

Minister of Agriculture and Fisheries, Hon. Floyd Green, is encouraging farmers’ groups to take advantage of the Jamaica Social Investment Fund’s (JSIF) Rural Economic Development Initiative, Phase II (REDI II).

The US$42 million programme will run over the next five years with the aim to improve both the agricultural and tourism sectors by enhancing access to markets and building climate-resilient approaches for targeted beneficiaries.

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Proceeds of Crime Act (POCA)

We are required to comply with the Proceeds Of Crime Act (POCA) its Regulations, and it necessary under the provisions of POCA to verify the identity and permanent address of all new Clients.

If you are an individual you will need to provide proof of identity such as your current passport, driver’s licence or national identification card, your date and place of birth and evidence of your current address. Companies, Trusts or other entities will need to provide Certificate of Incorporation/Trust Deed/Probate and the most up to date copy of the Articles of Incorporation (if applicable) together with the names and addresses of all Company Directors/Trustees/Other representatives; the representative from whom we take instructions will be required to provide proof of identity, date and place of birth, evidence of current address and authority to act.

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Foreign Account Tax Compliance Act (FATCA)

The Foreign Account Tax Compliance Act (FATCA) came into effect in the USA in March 2010. Its aim is to prevent US taxpayers from using accounts held outside of the USA to evade taxes. FATCA requires financial institutions to report annually on specified accounts held outside of the USA by US taxpayers. This reporting will be made available to the US Internal Revenue Service either directly or through local regulatory agencies. FATCA is supported in some countries by local legislation and regulations. A financial institution that fails to comply with FATCA will face a 30% withholding tax on a wide range of US-sourced payments to its clients. In addition, countries that pass regulations supporting FATCA will enforce those regulations through their own regulatory agencies.

FATCA applies to “US Persons”, who are persons falling into any of the following categories: You are a dual citizen, one of which is US citizenship; you are a US citizen residing outside the USA; you are a US passport holder; you were born in the USA; you are a ‘Green Card’ holder; or you are a non-US citizen who has substantial presence in the US, for at least 183 days (6 months).

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