Briefing journalists at yesterday’s post cabinet press briefing at Jamaica House, Minister with responsibility for Information, Senator Arthur Williams said the agreement will also facilitate the effective exchange of tax information between Jamaican tax authorities and their counterparts in Macao, China.
Williams explained that the Tax Information Exchange Agreement is regarded by the Global Forum on Transparency and Exchange of Information for Tax Purposes as one that facilitates effective exchange of information for tax purposes.
Macao is a special Administrative Region of the People’s Republic of China authorized to enter into such agreements with other countries. It is one of two international freeports in China and is a vital link between China and the global markets. The country depends mainly on export trade and also has a growing services economy.