- Overview: Jamaica
- Global HR Compliance
- Global PEO and Payroll
- Work permit for hiring expats via PEO
- Expand without a company set up
- Contractor vs. employee: which is better?
Global PEO and Payroll in Jamaica
Getting your business up-and-running in Jamaica can be challenging, especially if you do not speak the native language. Establishing your own business entity in Jamaica is an option to be considered as you expand abroad. But before you invest valuable resources in setting up business in Jamaica, you should be fully aware of the risks involved.
Acumen’s Global PEO and Payroll solution was designed especially for companies like yours, to smooth the way for quick, easy and risk-free business operations in Jamaica, without having to establish a legal business entity.
Acumen International – Your Professional Employer Organization in Jamaica
Navigating the Jamaican legal system and adhering to regulations governing employment and taxation can be challenging for businesses, especially if you are not a native Jamaican speaker. Partnering with Acumen International as a global Professional Employer organization (PEO) provides you with the local knowledge and support you need to conduct business in Jamaica without concern for legal and compliance risks.
Whether you represent international client companies or you are taking your own business operations abroad, Acumen International’s Global PEO and payroll service allows you to hire and payroll local and expat employees in Jamaica. With Acumen in your corner, you can quickly and easily onboard and compensate your employees without risk of legal repercussions.
International Global Payroll and Taxation in Jamaica
Employment related taxes
Employers are obligated to deduct and remit the following contributions, in addition to Pay-As-You-Earn (PAYE) Income Tax applicable to employees, by the 14th day of the month following the month of deduction.
National insurance scheme (NIS) contributions. Employees and self-employed persons are required to be insured under a state-administered program of social security insurance.
National housing trust (NHT) contributions. An employer’s contribution is tax-deductible, but that of an employee is not. Employee’s contributions are refunded after seven years, and an employer’s contribution is not refundable.
Expatriate employees, on application, are entitled to a refund of their contributions when they leave the island permanently.
A resident corporation is taxable on its worldwide income. Non-resident companies are subject to tax on Jamaican-sourced income. Tax is imposed on certain sources of income, such as interest, dividends, royalties, and fees, by way of withholding for non-resident corporations.
The income of certain organizations is specifically exempt from income tax. These include pension and superannuation funds and charitable organizations that are approved by the Commissioner-General, Tax Administration Jamaica (TAJ).
13th salary in Jamaica
13th salary is not required by law.
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How Acumen’s International PEO and Payroll Service can Benefit Your Business in Jamaica
Compensating your local and expat workforce in Jamaica and closely adhering to Jamaican taxation requirements can divert your attention and resources from activities that help your business grow. A reliable global employment solution like Acumen’s Global PEO and Payroll service can take a substantial burden off your shoulders so you can focus on running your company.
Outsourcing the administrative and compliance tasks involved in employee payroll is one approach, but we have a better solution. Acumen International offers a global PEO and payroll solution that goes beyond outsourcing. We hire and compensate your global workforce on your behalf, and take care of all the details of payroll while ensuring full compliance with Jamaican labor and taxation laws.
It is important to note that Acumen does not provide international global payroll services as a standalone solution, but only as a part of our global PEO and Payroll solution.
Our comprehensive global PEO and payroll services are just some of the benefits of partnering with Acumen International. We make it easy for you to achieve your business goals in Jamaica by officially employing and compensating your best selected global talent – both locals and expats – without concerns for legal and compliance risks faced by global employers.
Disclaimer: Any of the above information is subject to changes imposed by Jamaican laws. To get the latest updates on taxation in Jamaica and in 190 countries worldwide, contact Acumen’s team of global employment experts.