The corporate tax rate is 25%. However companies regulated by the Bank of Jamaica, the Financial Services Commission, the Office of Utilities Regulation and the Ministry of Finance and Planning ("regulated companies") are taxed at 33.33%. These regulated companies generally fall within the categories of financial institutions, securities dealers, insurance companies and utility companies. Since April 1, 2013, unregulated companies with annual revenues of J$500,000,000 or more are required to pay corporate tax at a rate of 30% of taxable income.A Minimum Business Tax (MBT) has been introduced effective April 1, 2014. The MBT is a flat tax of JMD 60,000 per year of assessment, payable in instalments of JMD 30,000 on or before 15 June and JMD 30,000 on or before 15 September.
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