Category: Taxation

A Jamaican corporation is taxed by the government for the profits it makes in the country. The rate of corporate tax in Jamaica depends on the type of business. Read on to learn about the types of companies and how profit shifting by multinationals affects CIT rates. Also, learn about the different exemptions to corporate tax in Jamaica. The rate of corporate tax in Jamaica The rate of corporate tax in Jamaica is currently 25 percent. Non-resident corporations are also subject to tax, though they only pay tax on income derived in Jamaica. In addition to corporate income tax, there…

The threshold for Personal Tax in Jamaica has been raised to $592,800 per year. This amount will increase the tax-free allowance for all Jamaican residents. Employers will need to update their payroll systems to reflect the new threshold. This change is good news for all residents of the country. There is no change for non-resident companies, but they are subject to tax on Jamaican-sourced income. Interest paid by a 'prescribed person' to a non-resident individual is subject to WHT of 25% Under the tax law, interest paid by a 'prescribed person to a non-resident individual is taxable. The tax is…

The Government of Jamaica has made strides towards ensuring that tax collection is transparent, equitable, and fair. This includes the establishment of the independent Objections Unit. These initiatives will help the Tax Administration Jamaica improves its risk assessment processes. Here are some jobs available at the Jamaica Tax Office. In addition, the TIWB is assisting the TAJ to develop processes to detect profit shifting by multinational enterprises. Jobs at the Jamaica Tax Office If you're looking for a challenging and rewarding job in taxation, Jobs at the Jamaica Tax Office could be just the thing for you. There are several…

While bookkeeping services in Jamaica are not cheap, it is not impossible to have a professional perform it for you. Bomcas Accounting, the world's most innovative bookkeeping service, offers services to allow you to work faster, serve more customers, and increase profits. For example, their bookkeeping team will calculate and file your taxes (including heart tax, national housing trust tax, and general consumption tax) and fill out your S01 and S02 forms. These tools will do the hard work for you, so that you can focus on growing your business. Cost of bookkeeping services in Jamaica Bookkeeping services in Jamaica…