Barbados vs Jamaica
Tax Rate Comparison
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๐ฐ Personal Income Tax Calculator
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๐ง๐ง Barbados โ Parish Councils & Land Tax
Barbados's 11 parishes have parish councils that levy land tax at 0.1%โ0.7% of site value. Barbados has long been a significant international business and financial centre, particularly for Canadian companies. Major tax reform in 2019 aligned Barbados with OECD BEPS standards. A tiered corporate tax rate structure was introduced. Barbados was removed from the EU tax haven blacklist following these reforms and maintains competitiveness as an IFC.
๐ฏ๐ฒ Jamaica โ Parish Councils & Local Taxes
Jamaica's 14 parishes each have a parish council that levies property tax (based on unimproved value at progressive rates), business licences, and local improvement fees. The Tax Administration Jamaica (TAJ) administers national taxes. Jamaica has undergone significant tax reform and fiscal consolidation since its 2013โ19 IMF Extended Fund Facility. The income tax threshold was significantly raised in 2016 to benefit low-income workers. Remittances are a key income source (~16% of GDP). Tourism is the primary export sector.
Barbados vs Jamaica: Key Tax Differences (2026)
๐ฐ Income Tax: ๐ง๐ง Barbados has a higher top income tax rate (12.5โ28.5% vs 0โ25%). ๐ฏ๐ฒ Jamaica is more favourable for high earners.
๐ VAT/Sales Tax: Barbados has a higher consumption tax (17.5% vs 15%).
๐ข Corporate Tax: ๐ง๐ง Barbados offers a lower corporate rate (9% vs 25%), which can influence business location decisions.