Taxes and Benefits For Jamaica Sole Traders

Taxes and Benefits For Jamaica Sole Traders

Corporate Tax, Taxation
Whether you're considering doing business in Jamaica or you already do, it's important to be aware of the different tax benefits that you can receive from doing so. The main ones include: Tax-free business income, tax-free business property, and tax-deductible NHT contributions. Accounting consultants provide essential service to businesses Using a professional accountant or tax consultant can be a wise move. Aside from the obvious tax returns, a professional can help you navigate the pitfalls of starting up a business. Having an accounting professional on your side can be the difference between success and failure. They can also help you…
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What is Corporate Tax in Jamaica?

Corporate Tax
There are various aspects of corporate taxation in Jamaica that should be understood before investing money in a local company. Some of the major topics include capital gains, dividends, profit shifting, and Jurisdictional arbitrage. In this article, we will cover the basics of corporate taxation in Jamaica. Dividends The Dividends of Corporate Tax in Jamaica (DCTJ) is a taxation system that applies to dividend income received from companies. This income is taxable in Jamaica under the Jamaican Income Tax Act. However, it is important to note that not every company pays dividends on a regular basis. Moreover, the taxation of…
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