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Jamaica vs South Korea
Tax Rate Comparison

Enter your income below for a personal tax estimate, then scroll down for full rate breakdowns.

๐Ÿ‡ฏ๐Ÿ‡ฒ Jamaica
vs
๐Ÿ‡ฐ๐Ÿ‡ท South Korea
Tax Year:

๐Ÿ’ฐ Personal Income Tax Calculator

Enter your income to see your estimated annual tax liability in each country โ€” side by side.

Enter your annual income above to see your personal tax comparison โ†’
Individual Income Tax (Top Marginal Rate)
Top Income Tax Rate
0โ€“25%
25% top; economic recovery strong
No change
6โ€“45%
Stable; political debate on top rate reduction
No change
VAT / GST / Sales Tax
VAT / GST / Sales Tax
15%
GCT 15% maintained
No change
10%
Standard 10% maintained
No change
Corporate Tax Rate
Corporate Tax Rate
25%
25%; financial services hub aspirations
No change
9โ€“24%
Competitiveness discussions vs global peers
No change
Capital Gains Tax
Capital Gains Tax
0%
No CGT maintained
No change
0โ€“45%
Financial income taxation reform continuing
No change
Social Security & Payroll
Social Security / Payroll
~11.5%
NIS; NHT housing contributions stable
No change
~18.5%
Contribution rates stable; pension reform discussion
No change
State, Regional & Local Taxes

๐Ÿ‡ฏ๐Ÿ‡ฒ 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 2013โ€“19 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.

๐Ÿ‡ฐ๐Ÿ‡ท South Korea โ€” Local Income Tax & Resident Tax

South Korea's 17 metropolitan/provincial governments levy local income tax at 10% of national income tax. Property holding tax (Jongbu-se) is a national progressive tax on higher-value properties. Local education taxes and acquisition taxes apply to property transfers. Seoul has higher effective rates due to property values.

โš ๏ธ Disclaimer: Rates shown are standard top/headline rates for informational purposes. Actual tax liability depends on income level, residency, deductions, and tax treaties. 2025โ€“2026 data reflects announced or enacted rates and may be subject to change. Not financial or legal advice.

Jamaica vs South Korea: Key Tax Differences (2026)

๐Ÿ’ฐ Income Tax: ๐Ÿ‡ฐ๐Ÿ‡ท South Korea has a higher top income tax rate (0โ€“25% vs 6โ€“45%). ๐Ÿ‡ฏ๐Ÿ‡ฒ Jamaica is more favourable for high earners.

๐Ÿ›’ VAT/Sales Tax: Jamaica has a higher consumption tax (15% vs 10%).

๐Ÿข Corporate Tax: ๐Ÿ‡ฐ๐Ÿ‡ท South Korea offers a lower corporate rate (24% vs 25%), which can influence business location decisions.

๐Ÿ“ˆ Capital Gains: ๐Ÿ‡ฏ๐Ÿ‡ฒ Jamaica taxes investment gains at a lower rate (0% vs 45%), benefiting investors.

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