Effective 17 August, financial institutions in Jamaica will be required to transmit relevant financial information to Tax Administration Jamaica on persons who reside permanently in the United States.

Jamaica is attracting high levels of global investor interest attributed to expanding investments in business process outsourcing, tourism, agri-business, mining, energy and manufacturing, plus logistics, medical tourism and the animation arts.

The government relies very heavily on taxes levied on the income of Jamaican residents, including taxes on interest earned on investments, salaries and business profits.