In May 2015 the new transfer pricing provisions of the Income Tax Act were tabled in the Lower House of Parliament. Some seven months later, those provisions are now part of the tax laws of Jamaica, and they have an effective date of January 1, 2015.
In this second instalment in that series, we will focus on the implementation of the new tax measures and address some of the lingering questions about the impact that the January 1, 2015 implementation date will have on affected taxpayers.
The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.