Incentives

Attractive fiscal incentives

Incentives

The Jamaican Government leverages a suite of incentives to provide attractive fiscal benefits to our investors. These incentives are deeply entrenched in legislation, which give investors peace of mind.

Omnibus Tax Incentives

Reduce Corporate Income Tax

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Access 30% employment tax credit when you file your taxes in full and on time

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Claim 100% tax credit when you pay statutory taxes in full and on time

Capital Allowance

Access capital allowance on industrial properties when you submit your annual returns

o Loss Carry Forwards

Carry forward up to 50% of your losses into the following tax year

Reduce Stamp Duty

Companies_0003_Stamp_Duty

Manufacturing or agricultural companies may receive Value Added Tax (VAT) or General Consumption Tax (GCT) relief

o Loss Carry Forwards

Registered manufacturers may receive 50% discount on Customs Administration fees and a deferment on GCT

Avoid import costs and stamp duties on specific items through the Productive Inputs Relief (PIR).

Companies operating in the … Register with the …
Tourism & Attraction Sectors Ministry of Tourism
Manufacturing Sector Ministry of Industry, Commerce, Agriculture & Fisheries
Agriculture Sector Ministry of Industry, Commerce, Agriculture & Fisheries
Creative Industries Ministry of Culture, Gender, Entertainment & Sport
Health Sector Ministry of Health

Special Economic Zone

Companies_0000_Zone_Development

In Jamaica, a Special Economic Zone (SEZ) is a specific geographical area in which the business and trade laws are different from the rest of Jamaica.

Through the Special Economic Zones Act, approved SEZ developers enjoy a range of incentives, including:

Tax Relief for Headquarter Operation

Headquarter-Operation

Establish your HQ in Jamaica and get exempted from Personal Income Tax for expatriate employees:

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Employ more than 29% of Jamaicans in your operations

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Execute supervision and management of company operation

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Execute centralized treasury management and funding activities, among others.

Tax Exemption for Stock Market Listing

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Companies listed on the Junior Stock Exchange are exempted from:

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100% of Corporate Income Tax in the first 5 years from the date of admission to the Junior Market.

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50% of the Corporate Income Tax in the following five (5) years.

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No application is required, once the company is listed on the Junior Stock Exchange

Tax Relief for Designated Development Areas

‘Companies which undertake development within the designated Special Development Areas, may benefit from:

Capital Allowance

Urban Renewal Bonds

Employment Tax Credit (ETC)

33.3% investment tax credit

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tax free rental income

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exemption from transfer tax and stamp duties on the ‘improved’ property.

Tax Relief for Bauxite and Alumina Industries

Companies

Recognized bauxite & alumina producers can benefit from:

import some items

Import duty concessions on lubricating oils, grease and other related chemicals, except petrol.

Employment Tax Credit (ETC)

Exemptions on import duties and Value Added Tax -General Consumption Tax on productive inputs.

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Exemptions on other port related taxes and charges, when importing productive inputs

SUCCESS STORIES

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ExportMax Success Story: Heather Laine

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Heather Laine has been designing and creating beautiful clothes for the past 22 years. Its CEO, Zoe Heather Summers, says that Heather Laine’s designs are inspired […]
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