Crowe Horwath Jamaica strengthens its tax service offerings by announcing a new professional services solution: ‘USA Tax Compliance and Advisory Services’ for local residents.
For the 2017 tax year, Crowe Horwath Jamaica can assist United States connected persons with their U.S. tax filings and related matters while they are in Jamaica.
If you are a U.S. citizen or lawful permanent resident alien of the U.S. (“Greencard Holder”), the rules for filing income, estate, and gift tax returns are generally the same no matter where you are living. Your worldwide income is subject to U.S. income tax reporting even if you are tax resident in Jamaica.
According to Dawkins Brown, Managing Partner of Crowe Horwath Jamaica, “Many U.S. citizens and Greencard Holders are not aware of their continuing obligations for U.S. regarding tax filings and other tax compliance reporting when living outside of the U.S.” Examples:
- U.S. citizens or Greencard Holders are subject to U.S. tax on their worldwide income irrespective of where the earnings are obtained or the currency in which they are paid;
- Jamaica tax residents who are not U.S. citizens or Greencard holders that travel to the U.S. on business may have a U.S. federal and possibly state tax filing obligation;
- You may have U.S. tax filing obligations even if you are not earning any income but previously filed a joint return with a spouse.
Jim Dawson, International Tax Partner at Crowe Horwath LLP, commented “Today’s global tax environment looks different with global tax disrupters such as Brexit, FATCA, FBAR, the OECD’s base erosion and profit shifting (BEPS) monitoring, and pending tax reform in the United States. These disrupters can affect both individuals and companies, from their operations and structures to reporting of transactions. The cost of non-compliance can be very expensive.”
The collaboration of the U.S. tax professionals of Crowe Horwath LLP and Crowe Horwath Jamaica will provide Jamaica residents with effective cross border tax services utilising Crowe’s “Global 360” approach to provide appropriate tax solutions.
Gary Johnson who serves as National Managing Director for Crowe Horwath’s Global Mobility Services group commented “Our objective is to assist our clients with effective and efficient tax support across the globe. The U.S. Tax Compliance and Advisory Services that Crowe Horwath Jamaica is now offering will allow Jamaica based individuals and entities to fulfil their U.S. tax compliance obligations by bringing access to these services in Jamaica.”
Our Jamaica/US Tax Team:
- Jim Dawson, CPA James.Dawson@crowehorwath.com
- Gary Johnson, CPA Gary.Johnson@crowehorwath.com
- Laurie Marson, CPA Laurie.Marson@crowehorwath.com
- Dawkins Brown, FCCA dawkins.brown@crowehorwath.com.jm
- Simone Powell, CA simone.powell@crowehorwath.com.jm
Crowe Horwath Jamaica (www.crowehorwath.com.jm) is one of the largest public accounting, consulting, and advisory firms in Jamaica . Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe Horwath Jamaica serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.
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