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Delegates from the Netherlands Antilles and Jamaica signed a convention for the avoidance of double taxation and prevention of fiscal evasion in Kingston on May 21. It is hoped that the treaty will be ratified later this year when both countries have completed the necessary measures.
When the treaty enters into force, 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 underlined the jurisdiction's commitment to improving its commercial relationship with other countries through the negotiation of tax treaties for the avoidance of double taxation.
“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 noted.
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.
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