Italy-Jamaica: signed agreement against double taxation
22 Jan 2018 - News
The Italian ambassador to Usa Armando Varricchio, who represents our country also in Jamaica, signed today with Jamaican Finance Minister Audley Shaw a bilateral agreement against double taxation. The objective of the agreement is to promote investment in both directions, thanks to a clear fiscal framework of reference. “For our businesses it is an important tool for penetration into the local market, which is also a natural entry point for the wider Caribbean market,” stressed Varricchio. The conclusion of the agreement, he added, coincides, moreover, with a favourable moment for the Jamaican economy, which, thanks to the vast programme of economic reforms launched by the Government, has a positive performance: In this context, our exports Towards the Caribbean island grew by 120% in the first ten months of 2017, compared to the same period in 2016. During the ceremony, held in the headquarters of the Jamaican Ministry of Finance, the Italian ambassador recalled the Italian entrepreneurial presence on the island, primarily the investment of the Campari group (7.2 mln DLR), of which yesterday inaugurated the new Joy Spence Appleton Estate Rum Experience: A structure designed to illustrate to visitors the history and production process of this brand of 269 years old rum, now among the most important brands of the Milanese group. “I am convinced that this is only the beginning of a new trend and that other Italian companies will follow Campari’s steps,” Varricchio said. During the visit, the Italian ambassador also met with Prime Minister Andrew Holness and Foreign Minister Kamina Johnson Smith, with whom he discussed how to strengthen the solid relations between Kingston and Rome also in the political field and Cultural.