#

Ease of Doing Business in

Jamaica

Jamaica Download Profile (1769.7KB, pdf)
Region Latin America & Caribbean
Income Category Upper middle income
Population 2,725,941
GNI Per Capita (US$) 5,010
City covered Kingston

190

1

DB 2017 Rank

1

100

DB 2017 DTF (% points)

  • local_library
  • group
Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 67 65 down
2
67.54 66.73 down
0.81
Starting a Business 12 6 down
6
95.61 97.28 down
1.67
Dealing with Construction Permits 75 71 down
4
71.15 71.10 up
0.05
Getting Electricity 101 81 down
20
68.00 71.09 down
3.09
Registering Property 123 120 down
3
53.70 53.67 up
0.03
Getting Credit 16 14 down
2
80.00 80.00
-
Protecting Minority Investors 63 62 down
1
58.33 58.33
-
Paying Taxes 116 155 up
39
65.18 53.52 up
11.66
Trading across Borders 131 133 up
2
60.70 59.61 up
1.09
Enforcing Contracts 117 114 down
3
53.60 53.60
-
Resolving Insolvency 38 36 down
2
69.15 69.08 up
0.07

Positive= Doing Business reform making it easier to do business.Negative= Change making it more difficult to do business.

DB 2017 Rank:

116

DB 2016 Rank:

155

Change in Rank:

up39

DB 2017 DTF (% points):

65.18

DB 2016 DTF (% points):

53.52

Change in DTF (% points):

up11.66

Indicator Jamaica Latin America & Caribbean OECD high income
Payments (number per year) info_outline 11 28.9 10.9
Time (hours per year) info_outline 268 342.6 163.4
Total tax rate (% of profit) info_outline 34.3 46.3 40.9
Postfiling index (0-100) info_outline 19.5 44.0 85.1
Tax or mandatory contribution Payments (number) Notes on Payments Time (hours) Statutory tax rate Tax base Total tax rate (% of profit) Notes on TTR
Corporate income tax 1 online 42 25% taxable profits 14.00
Education Tax 0 online and jointly 3.5% gross salaries 3.85
HEART contribution (Human Employment and Resource Training) 0 online and jointly 3% gross salaries 3.38
National Housing Trust 0 online and jointly 3% gross salaries 3.38
Property transfer tax 1 5% sale price 3.03
Social security contribution -National Insurance 1 online 168 2.5% gross salaries 2.82
Stamp duty 1 4% sale price 2.42
Property tax 1 various rates 0.99
Tax on interest 0 25% interest income 0.64 not included
Asset tax 1 various rates 0.36
Vehicle tax 2 JMD 18,000 fixed fee 0.06
Annual return filing fee 1 JMD 5,000 fixed fee 0.02
Fuel tax 1 fuel consumption 0.00 small amount
Value added tax (VAT) 1 online 58 16.5% value added 0.00 not included
Totals: 11 268 34.3
  • Answer
    Profit tax (% of profit) 14.0
    Labor tax and contributions (% of profit) 13.4
    Other taxes (% of profit) 7.0
    Answer Score
    Postfiling index (0-100) 19.5
    VAT refunds 20.0
    Does VAT/GST exist? Yes
    Frequency of VAT/GST refund submission monthly
    Does a VAT/GST refund process exist per the case study? Yes
    Restrictions on VAT refund process None
    Likelihood of VAT audit Likely
    Time to comply with VAT refund (hours) 40.0 20.0
    Time to obtain a VAT refund (weeks) 63.3 0.0
    Corporate income tax audits 57.8
    Does corporate income tax exist? Yes
    Likelihood of corporate income tax audit Likely
    Time to comply with a corporate income tax audit (hours) 24.5 57.8
    Time to complete a corporate income tax audit (weeks) 61.1 0.0
    Administrative appeal process
    First level administrative appeal authority Tax Commissioner
    Is the appeal authority independent? Same auditor
    Are appeal guidelines accessible to the public? Yes
    Source of appeal guidelines online/in printed publication/in person at tax office
    Is there a legal time limit for the appeal authority to issue a decision on the tax appeal? No
    Legal time limit

Notes:

Name of taxes have been standardized. For instance income tax, profit tax, tax on company's income are all named corporate income tax in this table.

The hours for VAT include all the VAT and sales taxes applicable.

The hours for Social Security include all the hours for labor taxes and mandatory contributions in general.

The postfiling index is the average of the scores on time to comply with VAT refund, time to obtain a VAT refund, time to comply with a corporate income tax audit and time to complete a corporate income tax audit.

N/A = Not applicable.