The end of double taxation with Jamaica

May 26, 2009 5:33 AM

The double taxation between the Netherlands Antilles and Jamaica will soon no longer exist. With the signing of the written agreements on this subject last Thursday in Jamaica, the conclusion of a treaty for the avoidance of double taxation between these two countries has reached its final stage.

The text of the treaty will be presented to the State Council of Ministers for approval through the Dutch Ministry of Foreign Affairs. After that the Antilles will proceed to signing this Double Taxation Avoidance Agreement (DTAA). State Secretary Alex Rosaria (Finance, PNP) hopes this will occur before the end of this year.
“After years of conversations on further integration with the Caribbean region and the importance of cooperation with the own region, it is finally happening. I hope that this treaty will lead to more regional platforms for cooperation. In addition to cooperation on government level, it also concerns mutual cooperation between social organizations”, says Rosaria.

This also includes sport. During the negotiations with Jamaica, the Antilles also took into account the wishes of the business community and of social or sport organizations who responded to a message of the State Secretary on this DTAA.

In the case of the Athletic Union (NAAU), the possibilities were considered to fecilitate sport encounters and exchanging of trainers with Jamaica through this coming treaty. “A treaty for the aviodance of double taxation with Jamaica will further stimulate the mutual trade and investments, which will contribute to our economy in general and our international financial services sector in particular”, Rosaria concludes.

(Source: National newspaper Amigoe)

May 23, 2009