Jamaica Corporate Income Tax

Corporate income tax rates and base

Jamaica applies different corporate rates depending on whether a company is 'regulated' (e.g. financial institutions) or 'unregulated'. Companies are taxed on worldwide income if resident.

• Unregulated company rate — 25% % (Income Tax Act)
• Regulated company rate — 33 1/3% % (Income Tax Act)
• Building society rate — 30% % (Income Tax Act)
• Life assurance company rate — 25% % (Income Tax Act)
• Renewable energy IPP rate — 25% for independent power producers with 75%+ renewable generation % (Income Tax Act)
• Tax base — Worldwide income for tax-resident companies; Jamaica-source income for non-residents (Income Tax Act)
• WHT on dividends to non-residents — 15% (reduced from prior 25% / 33 1/3%) % (Income Tax Act)
• WHT on dividends to residents — 15% % (Income Tax Act)
• WHT on interest to non-residents — 15% (non-treaty) % (Income Tax Act)
• WHT on royalties to non-residents — 33 1/3% (non-treaty) % (Income Tax Act)
• WHT on management fees to non-residents — 33 1/3% (non-treaty) % (Income Tax Act)
• WHT remittance deadline — Within 14 days of the end of the month in which payment is made (Income Tax Act)
• Corporate income tax return deadline — Annual return (Form IT02) due 15 March of the following year (Income Tax Act)
• Corporate estimated tax — Quarterly instalments (Form IT07) due 15 March, 15 June, 15 September, 15 December (Income Tax Act)
• Asset tax (financial institutions) — 0.25% on taxable assets of deposit-taking institutions, securities dealers and insurers % (Assets Tax (Specified Bodies) Act)