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Netherlands Antilles And Jamaica To Conclude DTA

by Phillip Morton, Investors Offshore.com

18 May 2009

Following rapid progress in the first round of negotiations in January 2009, the Netherlands Antilles and Jamaica are to meet on May 18 in Kingston to finalise the signing of a convention for the avoidance of double taxation and fiscal evasion with respect to income.

The convention will remove double taxation by laying a legal foundation which will determine where tax will be paid when trade and investment is carried out between businesses and individuals in the respective countries.

In a statement the Netherlands Antilles State Secretary of Finance, Alex Rosaria noted that the double taxation agreement will among other things, increase cross border investment between the Netherlands Antilles and Jamaica, foster investor confidence in the Netherlands Antilles and deepen commercial relations between the two countries. “Realization of a tax treaty with Jamaica is a major step in the process of deeper and broader cooperation between our country and Jamaica and the Caribbean,” he said.

The Netherlands Antilles currently has three double tax avoidance agreements (with the Netherlands, Aruba and Norway) and four Tax Information Exchange Agreements (TIEAs), with Australia, USA, Spain and New Zealand.

TAGS: Curaçao

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