Published On: Mon, Apr 20th, 2015

Jamaica and US to discuss tax arrangements to encourage investors

phillips-us-chamber2WASHINGTON, USA - Jamaica’s finance and planning minister, Dr Peter Phillips, says the government is to engage in talks with the US government, aimed at reshaping its bilateral investment and tax arrangements in order to encourage more US investors to Jamaica.

“One of the things that we discussed with US President Barak Obama and his team (on their recent visit to Jamaica) was how to re-define arrangements and agreements to provide a practical, but more attractive environment for the US investors to the country,” he said.

Addressing members of the United States Chamber of Commerce at a special meeting on Friday, April 17, at its headquarters in Washington, DC, the minister said he would be interested in hearing more from the US Chamber of Commerce on how “we can find ways to boost US investments in Jamaica.”

He also urged the Chamber to propose some changes they would welcome within the present tax and investment arrangements that exist between the US and Jamaica.

The minister pointed out that geographically, the US and Jamaica are close neighbours and will continue to have a population presence in each county.

He added that there are strong Jamaican communities in the US and every year Jamaica welcomes more than two million US visitors to its shores. Phillips said Jamaica and the US need to build on this platform and enhance the economic benefits “from our proximity and our historical linkages.”

Photo: Finance and Planning Minister, Dr Peter Phillips (second left), makes a presentation to US Chamber of Commerce Executive Director for America’s Development International Affairs Division, Reuben Smith-Vaughan, at a meeting in Washington, DC, on April 17. Others (from left) are: Financial Secretary in the Ministry of Finance and Planning, Devon Rowe and Business Development Manager at Trimble, William Perez. Photo: Derrick Scott

By Derrick Scott

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