Page 40 University of Technology, Jamaica Notes to the Financial Statements 31 March 2020 (expressed in Jamaican dollars unless otherwise indicated) 16. Accounts Receivable 2020 2019 $’000 $’000 Students’ fees 1,502,741 1,209,863 Less: Provision for credit losses (480,180) (332,482) 1,022,561 877,381 Government of Jamaica receivables 391,176 395,798 Staff loans and advances 234,453 244,917 Prepayments 115,485 101,872 Other 188,695 138,785 1,952,370 1,758,753 Government of Jamaica receivables represent amounts receivable from the Ministry of Education, Youth and Culture to settle amounts due for statutory payroll liabilities (PAYE and ED Tax). These amounts are paid by the Ministry on the University’s behalf. 17. Taxation Under Section 17 of the University of Technology, Jamaica Act, the University is exempt from Income Tax, Transfer Tax, Import Duties and General Consumption Tax on imported items. Under the General Consumption Tax Act, the University is entitled to acquire goods and services at a zero rate of tax. In addition, its own services are exempt from GCT under the provisions of Item 12 Part II of the Third Schedule to the GCT Act. University of Technology, Jamaica 156
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