Nicaragua vs Jamaica
Tax Rate Comparison
Enter your income below for a personal tax estimate, then scroll down for full rate breakdowns.
💰 Personal Income Tax Calculator
Enter your income to see your estimated annual tax liability in each country — side by side.
Individual Income Tax (Top Marginal Rate)
VAT / GST / Sales Tax
Corporate Tax Rate
Capital Gains Tax
Social Security & Payroll
🇳🇮 Nicaragua — Municipal Taxes
Nicaragua's 153 municipalities levy the Impuesto de Matrícula (2% of prior revenues), Impuesto Municipal sobre Ingresos (IMI at 1% of monthly revenues), property tax (IBI at 1%), and service fees. Nicaragua under Ortega government has faced significant economic disruption from 2018 protests and subsequent international isolation. The economy has stabilized somewhat but remains one of the poorest in Central America. Tax administration reform has been ongoing with support from international institutions.
🇯🇲 Jamaica — 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 2013–19 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.
Nicaragua vs Jamaica: Key Tax Differences (2026)
💰 Income Tax: 🇳🇮 Nicaragua has a higher top income tax rate (0–30% vs 0–25%). 🇯🇲 Jamaica is more favourable for high earners.
🛒 VAT/Sales Tax: Both countries have comparable consumption tax rates (15% vs 15%).
🏢 Corporate Tax: 🇯🇲 Jamaica offers a lower corporate rate (25% vs 30%), which can influence business location decisions.
📈 Capital Gains: 🇯🇲 Jamaica taxes investment gains at a lower rate (0% vs 15%), benefiting investors.