Jamaica's Ministry of Industry, Investment, and Commerce issued a release on amendments to the Special Economic Zones (SEZs) Act to comply with international obligations. In particular, the Act is being amended to explicitly state substance requirements to enjoy beneficial tax treatment, including that only companies undertaking core income earning activities may be allowed to operate in an SEZ. Further, Jamaica has opted to prohibit intellectual property activities being carried out within SEZs until an intellectual property regime related to activities within the zones is created. As such, companies carrying out intellectual property activities will no longer be allowed to operate...