The Social Security Rate in Jamaica stands at 18.75 percent.

Social Security Rate in Jamaica averaged 18.28 percent from 2004 until 2019, reaching an all time high of 18.75 percent in 2014 and a record low of 18 percent in 2005. This page provides - Jamaica Social Security Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Jamaica Social Security Rate - values, historical data and charts - was last updated on September of 2020.

Social Security Rate in Jamaica is expected to reach 18.75 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Jamaica Social Security Rate is projected to trend around 18.75 percent in 2021, according to our econometric models.

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Jamaica Social Security Rate

Actual Previous Highest Lowest Dates Unit Frequency
18.75 18.75 18.75 18.00 2004 - 2020 percent Yearly

Jamaica Taxes Last Previous Highest Lowest Unit
Corporate Tax Rate 25.00 25.00 33.33 25.00 percent [+]
Personal Income Tax Rate 30.00 30.00 35.00 25.00 percent [+]
Sales Tax Rate 16.50 16.50 17.50 16.50 percent [+]
Social Security Rate 18.75 18.75 18.75 18.00 percent [+]
Social Security Rate For Companies 12.00 12.00 12.00 11.50 percent [+]
Social Security Rate For Employees 6.75 6.75 6.75 6.50 percent [+]

Jamaica Social Security Rate
In Jamaica, the Social Security Rate is a tax related with labor income charged to both companies and employees. Revenues from the Social Security Rate are an important source of income for the government of Jamaica because they help to pay for many social programs including welfare, health care and many other benefits.