This report contains the ""Phase 2: Implementation of the Standards in Practice"" review, as well as revised version of the ""Phase 1: Legal and Regulatory Framework review"" already released for Jamaica. The Global Forum on Transparency and Exchange of Information for Tax Purposes is the multilateral framework within which work in the area of tax transparency and exchange of information is carried out by 120 jurisdictions, which participate in the Global Forum on an equal footing. The Global Forum is charged with in-depth monitoring and peer review of the implementation of the international s
Table of Contents; About the Global Forum; Executive Summary; Introduction; Information and methodology used for the peer review of Jamaica; Overview of Jamaica; General information on legal system and the taxation system; Overview of the financial sector; Overview of commercial laws and other relevant factors for exchange of information; Recent developments; Compliance with the Standards; A. Availability of Information; Overview; A.1. Ownership and identity information; A.2. Accounting records; A.3. Banking information; B. Access to Information; Overview
B.1. Competent Authority's ability to obtain and provide informationB.2. Notification requirements and rights and safeguards; C. Exchanging Information; Overview; C.1. Exchange-of-information mechanisms; C.2. Exchange-of-information mechanisms with all relevant partners; C.3. Confidentiality; C.4. Rights and safeguards of taxpayers and third parties; C.5. Timeliness of responses to requests for information; Summary of Determinations and Factors Underlying Recommendations; Annex 1: Jurisdiction's Response to the Report; Annex 2: List of All Exchange-of-Information Mechanisms
Annex 3: List of All Laws, Regulations and Other Material ReceivedAnnex 4: Overview of Commercial Laws and Other Relevant Factors for Exchange of Information; Annex 5: People Interviewed During On-site Visit
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