Jamaica

{"ftc_utility":"medium","fbar_trigger_notes":"US expats working or living in Jamaica will typically hold local JMD-denominated bank accounts. If aggregate balances across all foreign financial accounts exceed USD 10,000 at any point during the calendar year, FBAR (FinCEN 114) filing is required. Jamaican bank accounts are reportable foreign financial accounts. FATCA reporting (Form 8938) thresholds also apply.","ftc_utility_reason":"Jamaica taxes residents on worldwide income at rates of 25-30%, which are meaningful but below the top US federal rate. US expats who do not fully exclude income under FEIE can use the Foreign Tax Credit (Form 1116) to offset Jamaican income tax paid against US tax liability on the same income. FTC is most useful for higher earners above the FEIE exclusion limit or those with investment income taxed in Jamaica.","presence_day_count_notes":"Jamaica does not impose strict visa-based day limits that would prevent a US citizen from accumulating 330 qualifying days in a 12-month period. Visitors may enter on the standard 90-day tourist stamp, but longer-term residents typically obtain work permits or residency. The 330-day physical presence count for FEIE purposes should not be complicated by Jamaican immigration rules for those establishing genuine residency, though overstaying tourist entry could create immigration issues.","typical_qualifying_method":"either","housing_exclusion_available":true,"physical_presence_test_applies":true,"estimated_housing_exclusion_usd":14000,"local_tax_rate_on_earned_income":0.25,"bona_fide_residence_test_applies":true}

{"pension_income":{"notes":"Foreign pension income is assessable in Jamaica for resident individuals and taxed at progressive rates (25% and 30%). Jamaican-registered pension scheme distributions may receive preferential treatment under local pension legislation, but foreign pension schemes do not benefit from local pension exemptions. The annual tax-free threshold applies.","tax_rate":null,"locally_taxed":true},"social_security":{"notes":"No US-Jamaica totalization agreement or income tax treaty exists. US Social Security benefits received by a Jamaican tax resident are foreign-source income assessable under Jamaican income tax. The taxable portion depends on total assessable income after the annual threshold deduction.","locally_taxed":true,"treaty_protection":false},"roth_distributions":{"notes":"Qualified Roth IRA distributions are received tax-free in the US and represent a return of after-tax contributions plus exempt earnings. Jamaica does not have specific provisions recognizing Roth treatment. In practice, qualified Roth distributions would not be characterized as income under Jamaican rules given their tax-free nature at source, but this position is not codified. Taxpayers should seek local advice.","locally_taxed":false},"us_401k_ira_distributions":{"notes":"Jamaica and the United States do not have a bilateral income tax treaty. US-sourced 401k and IRA distributions received by a Jamaican tax resident are treated as foreign income. Jamaica taxes residents on worldwide income, so these distributions are included in assessable income and taxed at progressive rates (25% up to JMD 6 million, 30% above). The annual tax-free threshold of approximately JMD 1.5 million (roughly USD 9,700 at current rates) applies against total income.","tax_rate":null,"locally_taxed":true,"treaty_protection":false}}

{"rate":0,"notes":"Jamaica does not impose a capital gains tax. Gains on disposal of assets are generally not subject to income tax, though transfer tax and stamp duty apply to certain property transactions.","details":{"tax_type":"Capital Gains Tax","country_name":"Jamaica","country_iso_code":"JAM","source_references":["PwC Worldwide Tax Summaries - Jamaica","Tax Administration Jamaica (TAJ)"],"last_verified_date":"2026-06-03","general_description":"Jamaica has no standalone capital gains tax. Proceeds from the sale of assets, including securities and real property, are not taxed as income. However, property disposals attract transfer tax at 2% of the property value and stamp duty on the instrument of transfer. Gains from trading activities may be reclassified as ordinary income.","corporate_capital_gains":{"rate":0,"tax_treatment":"No capital gains tax. Corporate gains from property sales are not subject to income tax but attract transfer tax and stamp duty. Gains from trading in assets may be treated as ordinary income subject to corporate income tax at 25% (publicly listed) or 33.33% (non-listed)."},"individual_capital_gains":{"rate":0,"tax_treatment":"No capital gains tax on individuals. Transfer tax of 2% applies on the market value of real property transferred. Stamp duty also applies. Securities transactions on the Jamaica Stock Exchange are generally exempt from transfer tax."}}}

{"notes":"Dividends paid to resident individuals are subject to withholding tax at 15%. Dividends from Jamaica Stock Exchange-listed companies paid to residents may benefit from reduced rates. Dividends paid to non-residents are subject to 33.33% withholding unless reduced by treaty. The US-Jamaica tax treaty does not exist - Jamaica has no comprehensive income tax treaty with the United States, so US persons receive no treaty reduction.","rates":[{"rate":0.15,"type":"withholding","notes":"Resident individuals - standard dividend withholding rate"},{"rate":0.3333,"type":"withholding","notes":"Non-resident individuals and companies - standard withholding rate; no US-Jamaica tax treaty to reduce this rate"}]}