The Social Security Rate For Employees in Jamaica stands at 7.25 percent. source: Ministry of Labour and Social Security

Social Security Rate For Employees in Jamaica averaged 6.65 percent from 2004 until 2021, reaching an all time high of 7.25 percent in 2021 and a record low of 6.50 percent in 2005. This page provides - Jamaica Social Security Rate For Employees - actual values, historical data, forecast, chart, statistics, economic calendar and news. Jamaica Social Security Rate For Employees - values, historical data and charts - was last updated on July of 2021.

Social Security Rate For Employees in Jamaica is expected to reach 6.75 percent by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Jamaica Social Security Rate For Employees is projected to trend around 6.75 percent in 2022, according to our econometric models.

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Jamaica Social Security Rate For Employees

Actual Previous Highest Lowest Dates Unit Frequency
7.25 7.00 7.25 6.50 2004 - 2021 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 25.00 35.00 25.00 percent [+]
Sales Tax Rate 15.00 16.50 17.50 15.00 percent [+]
Social Security Rate 19.50 19.25 19.50 18.00 percent [+]
Social Security Rate For Companies 12.25 12.25 12.25 11.50 percent [+]
Social Security Rate For Employees 7.25 7.00 7.25 6.50 percent [+]


Jamaica Social Security Rate For Employees
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.