Major Tax Measures in Jamaica’s 2009/10 Budget:

1. Effective April 27, 2009 tax on fuel will be increased by $8.75 per liter. Also customs user fees on fuel imports other than those in the PetroCaribe Agreement will be increased from 2% to 5%.
2. Broadening GCT base to include some currently tax exempted items.
3. The minimum tax threshold will be doubled from the current level of $220,500 to $440,000. The increase will be staggered with the first increase taking effect July 1st to $320,000 with the second increase to $440,000 effective January 1st 2010.
4. The imposition of withholding tax of 33 1/3% on dividends for non resident share holders.
5. Transfer tax will be decreased from 5% to 4% while there will be a stamp duty reduction from 4.5% to 3%, both effective January 1 2010.