Trade, education, and customs: Treaties with Jamaica

May 07, 2009 7:19 AM

A delegation of the Netherlands Antilles will go to Jamaica next week for further negotiations regarding a treaty to avoid double taxation between the two countries. A Jamaican delegation visited Curaçao in January regarding the so-called Double Taxation Avoidance Agreement (DTTA).

The Antillean delegation of four consists of members of the Taskforce Tax Treaties with officials of the Tax Inspectorate, the Head of Fiscal Affairs and a member of the Curaçao International Financial Services Association (Cifa) as a representative of the private sector.

State Secretary Alex Rosaria (Finances, PNP) who will not attend the negotiations, is assuming that both delegations will agree upon a treaty text, during this second negotiation round -from May 18 to May 23-, and conclude such by signing the agreement. The remaining four points still require approval, as this was not achieved last January.

The DTAA offers various advantages for both parties. The mutual trade and investments will be substantially stimulated. The treaty will also stimulate the education in the region due to mutual tax incentives for education in both countries.
When this treaty becomes effective, Antillean students will be able to study in Jamaica with less financial barriers, for example at the renowned University of the West Indies.

In addition to the DTAA, the Antillean delegation will also talk about a customs treaty with Jamaica. This treaty will offer a legal basis for closer administrational cooperation between the customs authorities of both countries. It concerns the supervision of a correct compliance of the customs legislation as well as the prevention, investigation and combating of infringements of that legislation.

It is important for the State Secretary that the island takes a step towards strengthening the bonds with Jamaica and the rest of the Caribbean region.
“Nearly every country in the world is working on integration with its own region. Japan does it, so does the Netherlands. We have waited long enough, being under the impression that our region was not of essential importance for our development. The contrary is true. Therefore, we must dynamically continue with our plans for tax treaties with Surinam, Barbados and Trinidad & Tobago”, says State Secretary Alex Rosaria.

(Source: National newspaper Amigoe)

May 6, 2009