Jamaica proposes accelerated capital allowances for certain expenditures and reduced dividend withholding tax rates

24 March 2025|Tax Alerts, Information Reporting, National/Federal Taxation, Global|Jamaica

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Jamaica's Minister of Finance announced in the annual budget speech on 11 March 2025 proposals to grant accelerated capital allowances for certain types of capital expenditures incurred during 2025 and 2026.
A proposal to reduce the dividend withholding tax rate for nonresidents was also announced, along with various personal taxation and consumption taxation measures.
Businesses planning significant capital investments in Jamaica should closely monitor the legislative progres…

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