Global accounting network UHY International has released its latest taxation study, which shows that high earners in Jamaica – those who are paid US$1.5 million or more – pay much less tax than in most other jurisdictions.
The research reveals that the average net take-home pay on annual earnings of US$1.5 million globally is US$897,970 with tax at 40 per cent, but that Jamaicans in this income bracket manage to keep nearly 70 per cent of their income after taxes. That amounts to just over US$1 million on average as take-home pay.
Published in the Gleaner
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