Jamaican governments have used tax incentives as a policy tool to encourage investment in the island. These incentives, which remain part of the promotional effort, typically include income tax and import duty relief. Here are some examples of the tax incentives available now in Jamaica.

ENCOURAGEMENT ACT

This incentive offers to qualified firms 10 years income tax relief plus exemptions on duty for imported machinery and raw materials.

THE JAMAICA EXPORT FREE ZONE ACT 

To benefit from income tax relief on profits and exemption from import duties and licensing, qualifying manufacturers must be located within the designated free zones; however, firms located outside of the designated free zones may be allowed to benefit under the single entity free zone incentive.  

AGRO-PROCESSING

MMThere are numerous incentives to investors in the sector, including income tax relief, duty concessions on production-related imports, and industry modernization incentives. Farmers who engage in the production of certain crops qualify for “Approved Farmer” status, and enjoy related benefits. Most agricultural products grown and produced in Jamaica qualify under this provision.