Tax Planning Services

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Regulatory Risk is Real: How SME 775 Helps You Stay Compliant and Protected

July 16, 2025by Dr Dawkins Brown

Running a small or medium-sized business in Jamaica isn’t just about delivering great products or services—it’s also about navigating a maze of regulations, tax rules, and statutory obligations. And while growth is exciting, regulatory missteps can derail even the most promising SME. Many entrepreneurs underestimate the risk of non-compliance, assuming that as long as business...

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Investment Contracts with Discretionary Participation Features — Accounting Meets Tax

July 8, 2025by Dr Dawkins Brown

Under IFRS 17, certain investment contracts—those with Discretionary Participation Features (DPF)—fall within the standard’s scope, even though they may not transfer significant insurance risk. These contracts blur the line between investment management and insurance, and their treatment carries both accounting complexity and important tax implications. In its Technical Advisory, Tax Administration Jamaica (TAJ) has acknowledged...

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OCI and Taxation — The Unseen Impacts of Insurance Finance Income Presentation Choices

July 8, 2025by Dr Dawkins Brown

One of the lesser-discussed, yet highly impactful features of IFRS 17 is the option for insurers to present insurance finance income or expense either in the profit or loss (P&L) statement or in Other Comprehensive Income (OCI). While this may seem like an accounting classification choice, it carries significant tax implications in Jamaica. The TAJ...

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Onerous Contracts and Tax Adjustments — What the TAJ Will (and Won’t) Recognize

July 7, 2025by Dr Dawkins Brown

One of the most transformative features of IFRS 17 is its treatment of onerous contracts—insurance contracts that are expected to generate a net loss over their coverage period. While IFRS 17 mandates immediate recognition of losses from onerous contracts, the Tax Administration Jamaica (TAJ) has issued firm guidance stating that not all of these losses...

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The Fair Value and Modified Retrospective Approaches — Choosing the Right Path to Transition

July 7, 2025by Dr Dawkins Brown

The adoption of IFRS 17 Insurance Contracts represents a transformational shift in how insurance companies measure and present their financial results. A critical challenge lies in how to transition from IFRS 4 to IFRS 17, particularly for existing insurance contracts. IFRS 17 offers three transition approaches: the Full Retrospective Approach, the Modified Retrospective Approach (MRA),...

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Smart Tax Structuring for Growth: Aligning Business Models with Tax Efficiency

July 5, 2025by Dr Dawkins Brown

Growth Is Good—Unless It Triggers Tax Exposure Every successful business faces inflection points—scaling operations, entering new markets, restructuring ownership, or raising capital. But as operations grow more complex, tax obligations grow with them—unless the business structure is carefully planned. Tax structuring is not about avoiding taxes—it’s about aligning your business model with local and international...

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Tax Risk Management: Building Confidence Through Compliance

July 5, 2025by Dr Dawkins Brown

Tax Risk Is Business Risk In today’s complex and fast-changing regulatory environment, tax risk is more than a finance issue—it’s a strategic business concern. Errors, omissions, or delays in tax compliance can trigger audits, penalties, reputational harm, and strained relationships with regulators. Caribbean companies are increasingly expected to demonstrate transparency, accuracy, and proactive governance in...

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Navigating Jamaica’s GCT: 7 Common Mistakes and How to Avoid Them

July 5, 2025by Dr Dawkins Brown

GCT Compliance Is More Complex Than You Think Jamaica’s General Consumption Tax (GCT) regime is a key component of the tax landscape. While it functions like a standard value-added tax (VAT), it comes with unique rules, exemptions, and compliance requirements that can easily trip up even well-intentioned businesses. For many Jamaican companies—especially SMEs—GCT errors lead...

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Transfer Pricing Compliance: Why Even SMEs Should Be Paying Attention

July 5, 2025by Dr Dawkins Brown

Transfer Pricing Is No Longer Just a Big Business Issue Traditionally, transfer pricing (TP)—the rules governing the pricing of transactions between related parties—was seen as a concern only for large multinationals. But in today’s globally interconnected economy, even small and medium-sized enterprises (SMEs) are increasingly affected by TP rules, especially those operating across borders, within...

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Smart Tax Planning: How to Legally Reduce Your Corporate Tax Burden

July 5, 2025by Dr Dawkins Brown

Reducing Tax, Ethically and Strategically Taxes are one of the largest expenses for any business. Yet many companies in Jamaica and across the Caribbean continue to overpay or miss opportunities to optimize their tax positions—not due to evasion, but because of a lack of planning. At Dawgen Global, we believe that smart tax planning is...

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