Jamaica continues to benefit from the expertise of a Transfer Pricing specialist who is currently in the island for a week-long visit. Diego Gonzalez, Consultant attached to the Organisation for Economic Co-operation and Development (OECD) will be in the island from Monday November 21, 2016 to Friday November 25, 2016. While here, he is participating in high-level meetings as well as Technical Training sessions.
This is the fourth Transfer Workshop being conducted in Jamaica, the first was held in June last year and the following in January and September of this year. This Training forms part of a partnership with the OECD and World Bank to provide technical assistance in specialised areas of taxation. The two-year ‘up-skilling’ programme is for local tax administrators who will be responsible for the implementation and administration of the Transfer Pricing Provisions and is aimed at strengthening and clarifying provisions of the Income Tax Act concerning taxpayers engaged in transactions with related parties.
The training is being held for a core group of staff selected from the technical, operations legal and strategic areas of Tax Administration Jamaica (TAJ), as well as the Tax Policy and Revenue Appeals Division of the Ministry of Finance & the Public Service (MoFPS).
Mr. Gonzalez who will be leading the sessions is a Tax Adviser with the OECD on international transfer pricing and has extensive transfer pricing experience in several Latin American countries. Also scheduled for this visit, is a special meeting involving representatives from TAJ, Mr. Gonzalez and the Tax Committee of the Institute of Chartered Accountants of Jamaica (ICAJ) to update them on the status of the Transfer Pricing implementation in Jamaica.
The transfer pricing provisions being introduced by Jamaica are in keeping with best practice adopted by several tax administrations worldwide and are based on international standards and OECD rules.
Persons may contact the TAJ Customer Care Centre at 1-888-Tax-Help (1-888-829-4357) toll-free for further information or assistance.