Jamaica: Income and profits taxes
* indicates monthly or quarterly data series
| Jamaica |
Income, profits, and capital gains taxes: percent of revenue |
|---|---|
| Latest value | 33.24 |
| Year | 2020 |
| Measure | percent |
| Data availability | 1988 - 2020 |
| Average | 36.73 |
| Min - Max | 27.45 - 43.50 |
| Source | The World Bank |
The latest value from 2020 is 33.24 percent, an increase from 29.6 percent in 2019. In comparison, the world average is 24.43 percent, based on data from 130 countries. Historically, the average for Jamaica from 1988 to 2020 is 36.73 percent. The minimum value, 27.45 percent, was reached in 2018 while the maximum of 43.5 percent was recorded in 2009.
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Definition: Taxes on income, profits, and capital gains are taxes payable on the actual or presumed incomes, profits and capital gains. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Fiscal balance, percent of GDP | 0.22 | 2024 | percent |
| Primary budget balance | 5.37 | 2024 | percent |
| Tax revenue | 23.67 | 2020 | percent |
| Commercial tax rate | 35.10 | 2019 | percent |
| Tax preparation time | 268 | 2019 | hours |
| Taxes on goods and services | 45.81 | 2020 | percent |
| Taxes on international trade | 8.83 | 2020 | percent |
| Income and profits taxes | 33.24 | 2020 | percent |
| Foreign aid | 86.41 | 2023 | million U.S. dollars |
| Government debt | 62.43 | 2024 | percent |