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TAJ hosting Transfer Pricing Agreement seminar

Tuesday, September 11, 2018

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KINGSTON, Jamaica — The Tax Administration Jamaica (TAJ) says it will be hosting the second of two seminars featuring Transfer Pricing Agreement to sensitise taxpayers on international best practices.

The seminar, which is free to the public, is slated for tomorrow, Wednesday, September 12, at the Knutsford Court Hotel in Kingston between 9:30am and 12:30pm.

TAJ explained that the transfer pricing provisions being introduced are in keeping with best practice adopted by several tax administrations worldwide and are based on international standards and Organisation for Economic Co-operation and Development (OECD) rules.

Jamaica continues to benefit through the Tax Inspectors Without Borders (TIWB) Programme which is a joint OECD/UNDP initiative, TAJ said in a release, adding that through this programme expertise has been provided in the area of transfer pricing and now extended to the specific area of International Transfer Pricing Agreement (TPA).

According to TAJ, TIWB has provided an Advance Pricing Agreement (APA) specialist, Ian Wood, who is currently providing practical support in the island for a two-week period.

The seminars are geared towards providing technical assistance for people in specialised areas of taxation and 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.

Interested parties may call Sandra Pryce at 876-545-2127 or Venis Erskine-Kerr at 876-839-6351 or visit the website www.jamaicatax.gov.jm, the TAJ said.

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