There is no capital gains tax in the country, and the corporation tax rate is 33.3%/ for regulated entities and 30% (25% +5% surtax ) for unregulated entities. Property tax can rise to 3%, depending on the value of the property. The standard VAT rate is 16.5% with some items, for example basic foods, exempt. Jamaica is ranked 172nd in the world for paying taxes behind fellow Caribbean countries such as, Dominican Republic (94th), The Bahamas (56th) and St Lucia (52nd), according to the World Bank’s Ease of Doing Business Index (2011). Incentives for investment include special tax regimes for insurance, venture capital and international finance companies (Deloitte, 2012). The tax is year is the calendar year.
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