Jamaica
Corporate - Taxes on corporate income
Last reviewed - 12 August 2025Generally speaking a Jamaican resident corporation is taxable on its worldwide income. Non-resident companies are subject to income tax on Jamaican-sourced income. Tax is imposed on certain sources of income (such as interest, dividends, royalties, annuities, rentals, insurance premiums and service fees) by way of withholding at a rate of 33⅓% for non-resident corporations; however, with effect from 1 April 2025, non-resident corporations are liable to tax on dividends at a reduced rate of 15%.
Lower rates of withholding are possible, provided that the recipient is resident in a country that has concluded a double taxation treaty (DTT) with Jamaica that offers a measure of treaty protection and the local payor secures the requisite authorisation.
The current rates of corporate income tax (CIT) are as follows:
Classification | Definition | CIT rate (%) |
Regulated Companies |
A Company regulated by:
|
33⅓ |
Regulated Companies - Exceptions |
|
25 |
Building Society | A society incorporated under the Building Societies Act. | 30 |
Unregulated Company | A company (that is not a regulated company) registered and operating within Jamaica. | 25 |
The income of certain organisations is specifically exempt from income tax. These include pension and superannuation funds and charitable organisations that are approved by the Commissioner General, Tax Administration Jamaica (TAJ).
Local income taxes
Income tax is imposed at the national level. Income tax is not separately imposed at the local level.