Home > Incentives Available

Incentives

 		RequirementsConcessionsAccess
Removal of 2% Customs User Fee and waiver of the Common External Tariff (CET) on raw material.Must be a manufacturer/farmerRemoval of 2% CUF on raw material, capital equipment, packaging material and spare parts.  Custom Brokers are to utilize free codes on import entry. JMA provides a letter of certification to manufacturers. Non-members are required to submit a formal request and a factory visit is conducted at a fee.
Waiver of Duties on Corrugated Cartons Must be a manufacturer. Send a letter to the JMA requesting waiver of duties. JMA issues letter through the Ministry of Finance.   Duty free importation of corrugated cartons from extra-regional sources, which are not for re-exportation.  The company or Customs Broker takes the letter issued by JMA to Customs to get the duties waived.  The JMA issues letter to members and non-members. Members of the JMA must be in good standing. If not, the service is offered at a cost. Non members must submit a formal request, after which a factory visit is conducted. The service is conducted at a cost.
Waiver of Duties on Packaging Materials and Sporting GoodsMust be a manufacturer. JMA members are required to submit the bill of laden and invoice to the JMA, while non-members have to fill out an application form at the JMA. Unregistered companies have to fill out a registration form and after registration submit its Tax Compliant Certificate. Duties are waived for the importation of packaging materials and sporting goods. Duties are waived for the importation of corrugated cartons  from CARICOM and for re-exportation.The transaction takes place between JMA and the company’s Custom’s Broker for the waiver of duties. The certification letter can be accessed free of charge for members. However, for non-members, the price of the letter is $2500 for packaging materials and $5000 for sporting goods.
GCT Deferral Certificate on Packaging and Raw MaterialsMust be a manufacturer.JMA refers members on request to the Taxpayer Audit and Assessment Department for the granting of the GCT deferral certificate.Contact the JMA or the Taxpayer Audit and Assessment Dept. For non-members a formal request is submitted and a factory visit conducted at a fee.
Modernization of Industry (MOI) ProgrammeMust be a manufacturer     Waiving of GCT chargeable on the acquisition of machinery and equipment directly related to the manufacturing process.  Completed forms submitted to Jamaica Trade & Invest's Contact Centre  Site visit  Costs J$3,000.00   
Government of Jamaica Research and Development Tax Incentives Scheme  Contact the National Commission on Science and Technology (NCST) Customs Act and the General Consumption Tax Act now allows approved research and development projects to qualify for an exemption of GCT and customs duty on equipment and materials.Administered through the Secretariat of the NCST and may be accessed by organisations or individuals.
Customs User Fee WaiverMust be a manufacturer Must apply within three years of commencing manufacturingWaiving of the Customs User Fee on capital equipment and raw material for the first three years of operation of the entity.
  • Jamaica Trade & Invest's approval letter renewable every year for the three years under consideration 
  • Supporting documents
  • J$5,000.00
 
Accelerated Depreciation/Special Capital AllowanceMake an application to Jamaica Trade & Invest for subsequent certification of the company by the Ministry of Industry, Investment and CommerceWriting off of the cost of new capital equipment within a two-year period. (Special allowance on capital expenditure for 50% of full cost in the year of purchase and the remaining 50% the following year).
  • Jamaica Trade & Invest site visit (done by the Business Facilitation Department)
  • Certification by Ministry of Industry, Investment and Commerce
  • J$4,000.00
 
Export Industry Encouragement Act
Designed to encourage export manufacturing to hard currency (non-CARICOM markets). 		Can be a full exporter(exporting 100% of manufactured goods)Can be a partial exporter
(exporting a threshold of 5% of manufactured goods)  		Exemption from income tax for ten years and import duties on raw material and machinery for ten years as well granting of import tax rebate according to percentage of export profits to total profits.N.B.
For new exporters the rebate is calculated based on the percentage of export sales to total sales for existing exporters the rebate is calculated based on incremental export sales over a base year. The Act has been amended to provide benefits where incremental exports to non-CARICOM countries are in excess of 5% of total exports.		Application forms available from Jamaica Trade & Invest.  Supporting documents to be forwarded to Ministry of Tourism.  
Approved Farmer StatusMust be deemed a ‘prescribed’ agricultural activity:
  • Food crops
  • Seed growing
  • Trees for timber
  • Growing of tobacco
  • Horticulture
  • Fishing and fish farming
  • Breeding of beef cattle, dairy cattle, sheep, goats & pigs
  • Production of fertile eggs for hatching
  • Production of table eggs
  • Breeding of horses
 		Exemption from:
  • Income tax for 10 years
  • GCT for 10 years on capital equipment
  • CET and stamp duties on raw material imports
20% duty on importation of vehicles:
  • Panel vans and pick-ups (not exceeding 2 tons)
  • Trucks (exceeding 2 tons)
  • Tractor heads and tractors
 
  • Application forms available from Jamaica Trade & Invest
  • Apply through parish RADA office
 
Jamaica Export Free Zone Act
(Includes manufacturers and service providers)NB. Time bound by WTO rules – Dec. 2006
  • Company must be incorporated under the Companies Act.
  • All transactions must be in US currency.
  • Factories must be located in free zone area.
  • Single Entity Free Zone Status Exemption where the firm may benefit outside of the free zone area
  • Company must be registered according to the provisions of the Companies Act
  • Export at least 85% of production
  • Approval from Bank of Jamaica
 		Exemption from:
  • Income tax on profits in perpetuity
  • Import duty and licensing fee in perpetuity
Repatriation of foreign exchange without any form of recourse on the part of the government.		Application forms available from Jamaica Trade & Invest  to be forwarded to Free Zone Council  
Factory Construction LawCompanies must construct factories and lease or sell them to producersExemption from:
  • Import duties (for items not available locally)
  • Income tax on income from factory leasing or gains made from sales.
 		Cabinet submission

JMA Members

Site Search

My JMA

news letter JMA Alerts Sign-Up

event calendar Event Calendar

... loading calendar ...