Jamaica
A. Progress in the implementation of the minimum standard
Jamaica has 15 tax agreements in force, as reported in its response to the Peer Review questionnaire, including the multilateral agreement among the members of the CARICOM concluded with ten treaty partners (the CARICOM Agreement).1 One of those agreements, the agreement with Japan, complies with the minimum standard.
Jamaica signed the MLI in 2018 and listed its non-compliant bilateral agreements. The agreements modified by the MLI come into compliance with the minimum standard once the provisions of the MLI take effect.
Jamaica is implementing the minimum standard through the inclusion of the preamble statement and PPT combined with the LOB.2
B. Conclusion
Jamaica acknowledges that the CARICOM Agreement does not at this stage comply with the minimum standard and that discussions to bring this agreement up to date would be contemplated.3
← 1. Agreement Among the Governments of the Member States of the Caribbean Community for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income, Profits or Gains and Capital Gains and for the Encouragement of Regional Trade and Investment, St. Michael Barbados, 6 July 1994; between: Antigua and Barbuda (18 February 1998), Barbados (7 July 1995), Belize (30 November 1994), Dominica (19 June 1996), Grenada (1 March 1996), Guyana* (26 November 1997), Jamaica (16 February 1995), St. Kitts/Nevis (8 May 1997), St. Lucia (22 May 1995) St. Vincent (12 February 1998) and Trinidad & Tobago (29 November 1994). In total, Jamaica identified 24 "agreements" in its List of Tax agreements: 14 bilateral agreements and the CARICOM Agreement concluded with ten of its treaty partners.
← 2. For its agreements listed under the MLI, Jamaica is implementing the preamble statement (Article 6 of the MLI) and the PPT (Article 7 of the MLI). Under Article 7(7)(a) of the MLI, Jamaica is also implementing the simplified LOB (Article 7(8 to 13) of the MLI) in agreements concluded with treaty partners that adopted the simplified LOB..
← 3. Revisions to the CARICOM Agreement require an agreement from its eleven treaty partners.