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Tax Bites, But Honey Bun Ends Year On Sweet Note

Corporate income tax, for the first time in six years, took a $10-million bite out of net earnings for confectioner and bakery, Honey Bun Ltd.
Effective 2 June 2016, the 100 per cent tax remission for the first five years after listing on the Junior market of the Jamaica Stock Exchange ended.

The company became subject to income tax on 50 per cent of its chargeable income — for four months for the year ended 30 September 2016.the corresponding period last year…..

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    Honey Bun is the fastest growing wholesale bakery in Jamaica, specializing in producing individually packaged pastries and baked snacks. The company, which was publicly listed to the Jamaica Junior Stock Exchange in 2011, was the first Jamaican Bakery to be HACCP certified in May 2016. Honey Bun produces several variations of over a dozen products resulting in a range of over 40 SKUs from 3 brands: Honey Bun, Island Bites, and Buccaneer Jamaican Rum Cakes.

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