Jamaica vs Brazil
Tax Rate Comparison
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๐ฐ Personal Income Tax Calculator
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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.
๐ง๐ท Brazil โ State & Municipal Taxes
Brazil has one of the world's most complex tax systems. States levy ICMS at 7%โ18% varying by state. Municipalities levy ISS (services tax) at 2%โ5% and IPTU (urban property tax). A sweeping tax reform (EC 132/2023) is gradually replacing ICMS/ISS with unified IBS and CBS taxes through 2033. States impose ITCMD (inheritance/gift tax) up to 8%.
Jamaica vs Brazil: Key Tax Differences (2026)
๐ฐ Income Tax: ๐ง๐ท Brazil has a higher top income tax rate (0โ25% vs 0โ27.5%). ๐ฏ๐ฒ Jamaica is more favourable for high earners.
๐ VAT/Sales Tax: Brazil has a higher consumption tax (15% vs ~27.5% combined).
๐ข Corporate Tax: ๐ฏ๐ฒ Jamaica offers a lower corporate rate (25% vs 34%), which can influence business location decisions.
๐ Capital Gains: ๐ฏ๐ฒ Jamaica taxes investment gains at a lower rate (0% vs 22.5%), benefiting investors.