Jamaica

Paying Taxes in

Jamaica

Listed below is a detailed summary of the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as measures of administrative burden in paying taxes.

The information appearing on this page was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 183 economies. The most recent round of data collection for the project was completed in December 2010.

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To see indicator data for all economies, see the Paying Taxes page. To see how economies rank, see the Rankings page.

Tax or mandatory contribution Payments (number) Notes on Payments Time (hours) Statutory tax rate Tax base Total tax rate (% profit) Notes on TTR
Corporate income tax 4 30 33.3% taxable profits 25.6
HEART contribution (Human Employment and Resource Training) 12 3.0% gross salaries 3.4
National Housing Trust 12 3.0% gross salaries 3.4
Education Tax 12 3.0% gross salaries 3.4
Social security contribution -National Insurance 12 336 2.5% gross salaries 2.8
Property transfer tax 1 4.0% sale price 2.4
Fuel tax 1 fuel consumption 2
Stamp duty 1 3.0% sale price 1.8
Tax on interest withheld 25.0% interest income 0.6 not included
Property tax 1 various rates 0.4
Asset tax 1 various rates 0.2
Vehicle tax 2 fixed fee (JMD 8,000) 0.1
Annual return filing fee 1 fixed fee (JMD 3,000) 0
Value added tax (VAT) 12 48 17.5% value added not included
Totals: 72 414 45.6
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