Ministry of Finance signs double taxation agreement with UAE

Finance Minister, Dr Nigel Clarke, and Ambassador of the United Arab Emirates to Jamaica, Bader Abdullah Saeed Almatrooshi, have signed a Double Taxation Agreement between Jamaica and the UAE for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.

The signing took place during a short ceremony at the Ministry of Foreign Affairs and Foreign Trade in Kingston on Thursday. 

The objectives of the treaty are to provide full protection to taxpayers against double taxation and to allow for the free flow of international trade or cross-border transactions and investments, as well as the transfer of technology. 

The perceived benefits include the clarification of taxing rights of each state, the avoidance of double international juridical taxation, and the prevention of fiscal evasion with anti-avoidance provisions.