According to a recent update from the Swedish Ministry of Foreign Affairs, the protocol to the 1985 income tax treaty with Jamaica entered into force on 18 October 2013. The protocol, signed 4 December 2012, is the first to amend the treaty. It replaces Article 26 (Exchange of Information) to bring it in line with the OECD standard for information exchange, and replaces Article 28 (Excluded Companies) with a new Article 28 (Limitation of Benefits). The limitation of benefits provisions apply for companies of a Contracting State that derive income primarily from other states from banking, shipping, financing or insurance activities, or from being a headquarters, co-ordination centre or similar entity providing administrative services or other support.
The protocol generally applies from 1 January 2014, although the new exchange of information provisions apply from the date of its entry into force.
We’re here to answer any questions you have about the Orbitax products and services.
We’re committed to providing high value, low cost tax research and management solutions.
Our Twitter account is where you can find latest information, news updates, offers and lots more.