Jamaica

Jamaica General Consumption Tax changes

October 3rd, 2014

The Jamaica General Consumption Tax (GCT) Act 2014 is set to introduce a range of changes to the indirect tax regime. GCT operates like VAT, and is generally charged at 16.5%. The changes include: Withdrawal of the option to claim Special Consumption Tax credits against a company‚Äôs GCT liabilities Allow input VAT reclaims for certain …


Jamaica

Jamaica reduces Goods and Sales Tax GST 2012

June 15th, 2012

As part of a wide range of tax reforms, Jamaica is set to cut its Goods and Services Tax rate from 17.5% to 16.5% in June 2012. A Green Paper has been compiled earlier in 2011 spelling out a host of reforms by the Finance Ministry. The Corporate Tax rate will also be cut from …