COVID-19 forces General Consumer Tax subsidy
In its 2020/21 budget, the Caribbean Island of Jamaica has reduced its standard General consumption tax (its Value Added Tax) rate from 16.5% to 15%. This will tax effect from 1 April 2020.
The GCT cut is aimed at providing relief to businesses and consumers during the coronavirus crisis.
There was an initial plan to return the rate back to 16.5% once the COVID-19 crisis has abated, but no date has been confirmed.
General Consumption Tax
It also operates a higher GCT rate of 25% on telecoms supplies, as well as reduced rate of 10% (hotels, tour operators and related travel) and 2%. Plus nil-rating on some supplies.
For all global VAT and GST rates see our international tax rates database.