Friday, March 29, 2024
spot_img
HomeBusinessEconomyUAE - Jamaica double taxation agreement ratified

UAE – Jamaica double taxation agreement ratified

By Chris Patterson

KINGSTON, Jamaica (JIS) – Cabinet of ministers of Jamaica approved the Double Taxation Agreement between the United Arab Emirates (UAE) and Jamaica. The agreement will eliminate double taxation with respect to taxes on income and the prevention of tax evasion and avoidance.

Minister of education, youth and information, Fayval Williams, disclosed on Wednesday, May 19, during the post-Cabinet press briefing at Jamaica House in St Andrew.

“The general objectives of the bilateral tax agreement are to provide full protection of taxpayers against double taxation and to allow for the free flow of international trade or cross-border transactions and investment as well as the transfer of technology,” she noted that it will “prevent discrimination between taxpayers in the international field and provide a reasonable element of legal and fiscal certainty as a framework within which international operations could be pursued.”

“The agreement fosters cooperation between the tax authorities in the UAE and Jamaica, thus enabling them to execute their duties more effectively,” the minister said.

spot_img
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img
spot_img
spot_img

Caribbean News

Omdia: Global semiconductor supply chain set to see growth in 2024 as GenAI demand increases 

LONDON, England - New research from Omdia has revealed that the global semiconductor supply chain is forecasted to reach approximately $600 billion by 2024, having navigated through strategic inventory...

Global News

New Commonwealth network to support knowledge exchange on medicines and vaccine procurement

LONDON, England - Officials attending the inaugural meeting of the Commonwealth Heads of Procurement Network (HOPN) have underscored the importance of supporting countries to...