Taxes on income, profits and capital gains in Jamaica
Jamaica: Taxes on income, profits and capital gains was 33.2% in 2020. ▼ Falling
Taxes on income, profits and capital gains in Jamaica, 1988–2020
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
Jamaica recorded 33.2% for taxes on income, profits and capital gains in 2020.
That represents a change of up 12.3% on the previous year and down 11.1% over ten years.
Over the whole period, taxes on income, profits and capital gains in Jamaica peaked at 43.5% in 2009 and was at its lowest, 27.5%, in 2018.
Jamaica ranks 39th of 153 countries on this measure, in the top quarter.
The long-run direction has been consistently falling across the 33 years of available data.
Taxes on income, profits and capital gains in Jamaica, year by year
| Year | % of revenue | Change |
|---|---|---|
| 1988 | 35.2% | — |
| 1989 | 33.3% | -5.5% |
| 1990 | 40.9% | +22.9% |
| 1991 | 35.0% | -14.4% |
| 1992 | 36.3% | +3.7% |
| 1993 | 35.5% | -2.1% |
| 1994 | 37.9% | +6.7% |
| 1995 | 35.7% | -5.8% |
| 1996 | 38.5% | +7.8% |
| 1997 | 39.8% | +3.2% |
| 1998 | 39.4% | -0.9% |
| 1999 | 36.3% | -8.0% |
| 2000 | 38.9% | +7.2% |
| 2001 | 38.8% | -0.3% |
| 2002 | 38.8% | +0.1% |
| 2003 | 40.0% | +3.2% |
| 2004 | 40.5% | +1.3% |
| 2005 | 39.6% | -2.4% |
| 2006 | 40.5% | +2.3% |
| 2007 | 40.8% | +0.9% |
| 2008 | 43.1% | +5.7% |
| 2009 | 43.5% | +0.8% |
| 2010 | 37.4% | -14.0% |
| 2011 | 37.7% | +0.8% |
| 2012 | 38.0% | +0.8% |
| 2013 | 32.9% | -13.3% |
| 2014 | 34.1% | +3.6% |
| 2015 | 33.3% | -2.3% |
| 2016 | 31.9% | -4.2% |
| 2017 | 28.1% | -11.9% |
| 2018 | 27.5% | -2.4% |
| 2019 | 29.6% | +7.8% |
| 2020 | 33.2% | +12.3% |
Jamaica compared with similar countries
- Jamaica's 33.2% is above the median for upper middle income countries, which is 22.7%, 1.5× the median. (48 countries reporting)
- Jamaica's 33.2% is above the median for Latin America & Caribbean, which is 25.4%, 1.3× the median. (24 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 34.2% | 33.3% | 35.2% | 2 |
| 1990s | 37.5% | 35.0% | 40.9% | 10 |
| 2000s | 40.4% | 38.8% | 43.5% | 10 |
| 2010s | 33.1% | 27.5% | 38.0% | 10 |
| 2020s | 33.2% | 33.2% | 33.2% | 1 |
Countries ranked near Jamaica
More public sector data for Jamaica
- Democracy, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Democracy 7 (2025)
- Chief executive of the government is elected 1 (2025)
- Elected parliament 1 (2025)
- Men's universal right to vote 1 (2025)
Frequently asked questions
- What is taxes on income, profits and capital gains in Jamaica?
- Taxes on income, profits and capital gains in Jamaica was 33.2% in 2020, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on income, profits and capital gains recorded in Jamaica?
- The highest recorded value was 43.5% in 2009.
- What is the lowest taxes on income, profits and capital gains recorded in Jamaica?
- The lowest recorded value was 27.5% in 2018.
- How does Jamaica rank for taxes on income, profits and capital gains?
- Jamaica ranks 39th out of 153 countries with data for 2020.
- Is taxes on income, profits and capital gains rising or falling in Jamaica?
- Over the last ten years it is down 11.1%. The long-run trend across the full record is falling.
- Where does this Jamaica data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on income, profits and capital gains (% of revenue). Statizoid updates them automatically from the source API.
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About this data
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.