 |
|
|
 |
|
| |
|
| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
| Offshore Trusts
Guide: OTG publishes news, features and newsletters on the use of
offshore trust structures. |
| TreatyPro: Online
tax treaty resource. |
|
|
| Jamaica, Costa Rica Attempt To Move Trade Deal |
by Amanda Banks, Tax-News.com, London
Friday, August 19, 2011
Jamaica and Costa Rica are attempting to press forward with the formal implementation
of a seven-year-old-free trade agreement (FTA), and have held talks designed
to move the process along.
The FTA was signed in 2004 between Costa Rica and the Caribbean Community (CARICOM).
Thus far, only Trinidad and Tobago, Guyana and Barbados have completed their
ratification processes. However, while the treaty is not yet fully in force
in Jamaica, it has been applied provisionally, following a 2006 Cabinet decision
to approve its implementation. Jamaica is in the process of amending legislation
to secure its formal implementation.
Jamaican and Costa Rican representatives held a series of meetings on August
9 to discuss Jamaica's action on the FTA, led by Costa Rica's Minister of Foreign
Trade, Anabel Gonzalez, and the Jamaican Minister of Foreign Affairs and Foreign
Trade, Dr. Kenneth Baugh. The talks included discussions on issues related to
trade and other areas of bilateral cooperation, and focus was also placed on
business opportunities, providing an opportunity for face-to-face interaction
and the establishment of contacts between entrepreneurs from both countries.
Jamaica is Costa Rica’s second most important market in the Caribbean;
imports of Costa Rican goods were worth USD52.8m in 2010. However, Jamaica only exported USD514,000
worth of goods to Costa Rica in 2010, including re-exports (value-added goods)
totalling USD211,415. In contrast, according to Gonzalez, since Trinidad and
Tobago's implementation of the agreement, its trade with Costa Rica has increased
annually at 48%.
Speaking to representatives from the Ministry of Foreign Affairs and Foreign
Trade, the Jamaica Promotion Agency (JAMPRO), the Costa Rican Export Promotion
Agency (PROCOMER) and the Costa Rican and Jamaican private sectors, Gonzalez
said that the FTA is aimed at increasing and diversifying trade in goods. She
explained that it also provides for negotiations on competition policy, government
procurement, double taxation and services, and a legal framework which encourages
transparency and deals with trade disputes.
Baugh added that Jamaica is seeking to penetrate the Costa Rican market, and
anticipates a more balanced trading relationship with the full implementation
of the agreement. He said: “We have to plan carefully, with some measure
of protection for our sensitive domestic sectors, even while we co-operate”.
.
|
|
|
|
| THE LOWTAX LIBRARY
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
FREE TRIAL NEWS SUBSCRIPTION
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
|
|
 |
|
LAWANDTAX-NEWS.COM
