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The economy of Jamaica is heavily reliant on services, accounting for 71% of the country's GDP. [17] Jamaica has natural resources and a climate conducive to agriculture and tourism. The discovery of bauxite in the 1940s and the subsequent establishment of the bauxite-alumina industry shifted Jamaica's economy from sugar , and bananas .
Pages in category "Taxation in Jamaica" This category contains only the following page. This list may not reflect recent changes. R. Receiver General of Jamaica
62% (This consists of 40% income tax on the GBP 100k–125k band, an effective 20% due to the phase-out of the personal allowance, and 2% employee National Insurance). The marginal rate then drops to 47% for income above GBP 125k (45% income tax plus 2% employee National Insurance) [237] [238] 20% (standard rate) 5% (home energy and renovations)
The Jamaican Free Zones are a government free trade zone initiative in Jamaica.Designed to encourage foreign investment and international trade, businesses operating within these zones have no tax on their profits, and are exempted from customs duties on imports and exports (capital goods, raw materials, construction materials, and office equipment) and import licensing requirements.
The move brought Jamaica in line with European standards, but at first meant that companies filing their financial reports with the U.S. Securities and Exchange Commission (SEC) would have to reconcile their figures to Generally Accepted Accounting Practices (GAAP) and highlight the differences from IFRS. In June 2007 the SEC allowed companies ...
The negative income tax (NIT), ... Jamaica had a flat tax of 25% on personal income until 2010, when it introduced additional higher rates of 27.5% and 33%. It ...
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In Jamaica there are over 330 health centers, 24 public hospitals, the University Hospital of the West Indies, a regional teaching institution partially funded by Regional Governments including Jamaica, 10 private hospitals and over 495 pharmacies. There are around 5,000 public hospital beds and about 200 in the private sector.