Nicaragua vs Jamaica
Tax Rate Comparison
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๐ฐ Personal Income Tax Calculator
Enter your income to see your estimated annual tax liability in each country โ side by side.
๐ณ๐ฎ Nicaragua โ Municipal Taxes
Nicaragua's 153 municipalities levy the Impuesto de Matrรญcula (2% of prior revenues), Impuesto Municipal sobre Ingresos (IMI at 1% of monthly revenues), property tax (IBI at 1%), and service fees. Nicaragua under Ortega government has faced significant economic disruption from 2018 protests and subsequent international isolation. The economy has stabilized somewhat but remains one of the poorest in Central America. Tax administration reform has been ongoing with support from international institutions.
๐ฏ๐ฒ Jamaica โ Parish Councils & Local Taxes
Jamaica's 14 parishes each have a parish council that levies property tax (based on unimproved value at progressive rates), business licences, and local improvement fees. The Tax Administration Jamaica (TAJ) administers national taxes. Jamaica has undergone significant tax reform and fiscal consolidation since its 2013โ19 IMF Extended Fund Facility. The income tax threshold was significantly raised in 2016 to benefit low-income workers. Remittances are a key income source (~16% of GDP). Tourism is the primary export sector.
Nicaragua vs Jamaica: Key Tax Differences (2026)
๐ฐ Income Tax: ๐ณ๐ฎ Nicaragua has a higher top income tax rate (0โ30% vs 0โ25%). ๐ฏ๐ฒ Jamaica is more favourable for high earners.
๐ VAT/Sales Tax: Both countries have comparable consumption tax rates (15% vs 15%).
๐ข Corporate Tax: ๐ฏ๐ฒ Jamaica offers a lower corporate rate (25% vs 30%), which can influence business location decisions.
๐ Capital Gains: ๐ฏ๐ฒ Jamaica taxes investment gains at a lower rate (0% vs 15%), benefiting investors.