Jamaica Tax Rates 2025

Corporate Income Tax

• The corporate income tax rate is 33.33%.
• A reduced corporate income tax rate of 12.5% applies to companies operating within Special Economic Zones.
• Some regulated companies may have a corporate income tax rate of 25%.

Withholding Taxes

• Jamaica imposes withholding tax on certain payments to non-residents. Here are the rates:
  • Dividends: 15%
  • Interest: 25%
  • Royalties: 25%

General Consumption Tax (GCT)

• The standard rate of GCT is 15%.
• A rate of 10% applies to the tourism sector.
• A rate of 25% applies to telecommunication services.
• Some basic food items, prescription drugs, and certain services are exempt.

Other Taxes

• Property Tax: Calculated based on the unimproved value of the land.
• Transfer Tax: 2% on the transfer of land, buildings, securities, and shares.

Tax Incentives

• Special Economic Zones: Offer benefits such as reduced corporate income tax rates, customs duty relief, and GCT relief.
• Tax relief for large-scale projects and pioneer industries.

Double Taxation Treaties

• Jamaica has double taxation treaties with several countries. These treaties are designed to prevent income from being taxed twice (in both Jamaica and the investor's home country).

Social Security Contributions (Paid by Employers)

• National Housing Trust (NHT): 3% of gross emoluments.
• National Insurance Scheme (NIS): 3% of gross emoluments.
• Human Employment and Resource Training Trust (HEART): 3%
• Education Tax: 3.50%