Taxes on income, profits and capital gains in Jamaica
Jamaica: Taxes on income, profits and capital gains was 37.8% 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 total taxes.
Analysis
Jamaica recorded 37.8% for taxes on income, profits and capital gains in 2020.
The figure is up 13.9% on the previous year and down 10.5% over ten years.
Over the whole period, taxes on income, profits and capital gains in Jamaica peaked at 50.9% in 1990 and was at its lowest, 31.7%, in 2017.
That places Jamaica 75th out of 153 countries with data for 2020, putting it in the middle of the range.
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 total taxes | Change |
|---|---|---|
| 1988 | 43.8% | — |
| 1989 | 45.2% | +3.1% |
| 1990 | 50.9% | +12.7% |
| 1991 | 45.9% | -9.8% |
| 1992 | 44.9% | -2.3% |
| 1993 | 41.3% | -8.0% |
| 1994 | 44.4% | +7.7% |
| 1995 | 41.7% | -6.3% |
| 1996 | 44.0% | +5.7% |
| 1997 | 44.6% | +1.3% |
| 1998 | 43.6% | -2.2% |
| 1999 | 43.4% | -0.6% |
| 2000 | 45.1% | +4.0% |
| 2001 | 43.9% | -2.7% |
| 2002 | 44.2% | +0.7% |
| 2003 | 45.8% | +3.6% |
| 2004 | 46.2% | +1.0% |
| 2005 | 45.4% | -1.7% |
| 2006 | 45.4% | -0.0% |
| 2007 | 46.9% | +3.2% |
| 2008 | 48.4% | +3.3% |
| 2009 | 49.1% | +1.5% |
| 2010 | 42.2% | -14.0% |
| 2011 | 41.9% | -0.8% |
| 2012 | 40.9% | -2.3% |
| 2013 | 38.0% | -7.1% |
| 2014 | 37.9% | -0.4% |
| 2015 | 36.9% | -2.6% |
| 2016 | 34.8% | -5.6% |
| 2017 | 31.7% | -8.9% |
| 2018 | 31.8% | +0.2% |
| 2019 | 33.2% | +4.4% |
| 2020 | 37.8% | +13.9% |
Jamaica compared with similar countries
- Jamaica's 37.8% is above the median for upper middle income countries, which is 37.1%, 1.0× the median. (48 countries reporting)
- Jamaica's 37.8% is above the median for Latin America & Caribbean, which is 36.0%, 1.0× the median. (24 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 44.5% | 43.8% | 45.2% | 2 |
| 1990s | 44.5% | 41.3% | 50.9% | 10 |
| 2000s | 46.0% | 43.9% | 49.1% | 10 |
| 2010s | 36.9% | 31.7% | 42.2% | 10 |
| 2020s | 37.8% | 37.8% | 37.8% | 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 37.8% 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 50.9% in 1990.
- What is the lowest taxes on income, profits and capital gains recorded in Jamaica?
- The lowest recorded value was 31.7% in 2017.
- How does Jamaica rank for taxes on income, profits and capital gains?
- Jamaica ranks 75th 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 10.5%. 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 total taxes). 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 total taxes which includes all compulsory, unrequited payments, in cash or in kind, made by institutional units to government units.