JAMAICA NOW ABLE TO PARTICIPATE IN GLOBAL FORUM ON TRANSPARENCY AND EXCHANGE OF INFORMATION FOR TAX PURPOSES:

JULY 15, 2010

JAMAICA NOW ABLE TO PARTICIPATE IN GLOBAL FORUM ON TRANSPARENCY AND EXCHANGE OF INFORMATION FOR TAX PURPOSES:

Cabinet has approved Jamaica's membership in the Global Forum on Transparency and Exchange of Information for Tax purposes, established by the Organization for Economic Co-operation and Development (OECD).

Minister with responsibility for Information, Daryl Vaz told this morning's post Cabinet press briefing at Jamaica House, that Jamaica's membership would ensure that it has a better opportunity to influence its assessment by the international community.

Jamaica's membership he said, would also afford it an opportunity to examine the regulatory framework of other players in the global market for international financial services. It will also provide an avenue for Jamaica to signal to the international community, its intention to enter the market for international financial services as a fully compliant member.

Mr. Vaz said this membership would assist in dispelling efforts by competing countries to dissuade potential clients from registering international companies in Jamaica.