Incentives - Do Business Jamaica

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

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

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

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

Click here to access more information

Reduce Stamp Duty

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

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).

Access PIR benefits by registering with the respective Ministries

Companies operating in…	Register with the…
Tourism & Attraction Sectors	Ministry of Tourism info@mot.gov.jm
Manufacturing Sector	Ministry of Industry, Investment & Commerce industry@micaf.gov.jm
Agriculture Sector	Ministry of Industry, Investment & Commerce agriculture@micaf.gov.jm
Creative Industries	Ministry of Culture, Gender, Entertainment & Sport entertainment@mcges.gov.jm
Health Sector	Ministry of Health & Wellness info@moh.gov.jm

Special Economic Zone

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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:

Learn more about the SEZ regime

Tax Relief for Headquarter Operation

Headquarter-Operation

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

Employ more than 29% of Jamaicans in your operations

Execute supervision and management of company operation

Execute centralized treasury management and funding activities, among others.

Contact the Ministry of Finance & Public Serve to access more information

Tax Exemption for Junior Stock Market Listing

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Companies listed on the Junior Stock Exchange are automatically exempted from:

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

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

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:

Urban Renewal Bonds

33.3% investment tax credit

tax free rental income

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

Contact Jamaica’s Urban Development Corporation to access more information

Tax Relief for Bauxite and Alumina Industries

Companies

Recognized bauxite & alumina producers can benefit from:

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

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

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

Click here to access more information

Learn more about Jamaica’s Incentive Legislation

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