KINGSTON, Jamaica – The Cabinet has granted approval for the Double Taxation Agreement between the United Arab Emirates (UAE) and Jamaica.
Fayval WilliamsIn making the announcement recently, Information Minister Fayval Williams said that the agreement will eliminate double taxation with respect to taxes on income and the prevention of tax evasion and avoidance.
She said 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 is one that also fosters cooperation between the tax authorities in the UAE and Jamaica, enabling them to execute their duties more effectively.
