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Property Transfer Tax and Stamp Duty

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Abstract

The stamp duty and property transfer tax in Jamaica yielded less than J$4 billion in revenues in 2003. As a percent of GDP, and as a percent of total taxes raised, there has been a long term decline in revenue from these two sources. However, even though these taxes do not dominate the revenue structure, they often figure prominently in discussions about what is wrong with Jamaica’s tax system. There are many problems with the stamp duty and property transfer tax and there have been calls for their elimination. Why have they been retained? Even at only about 4 percent of total taxes, they account for a significant amount of revenue. In fact, in 2002-2003, revenues from these two taxes were equivalent in amount to 22 percent of collections from the domestic portion of the GCT. Another justification for these taxes is that they plug a hole in a leaky tax enforcement system, and capture some Jamaicans who may escape the income tax net.

Suggested Citation

  • Roy Bahl, 2004. "Property Transfer Tax and Stamp Duty," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper0427, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    • Handle: RePEc:ays:ispwps:paper0427
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    File URL: http://icepp.gsu.edu/files/2015/03/ispwp0427.pdf
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    Cited by:

    1. Roy Bahl, 2017. "Metropolitan city finances in Asia and the Pacific region: issues, problems and reform options," MPDD Working Paper Series WP/17/04, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
    2. Roy Bahl & Sally Wallace, 2008. "Reforming the Property Tax in Developing Countries: A New Approach," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper0819, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    3. Sally Wallace & James Alm, 2004. "The Jamaican Individual Income Tax," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper0430, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    4. Roy Bahl & Sally Wallace, 2007. "Comprehensive Tax Reform in Jamaica," Public Finance Review, , vol. 35(1), pages 4-25, January.
    5. Terri A. Sexton, 2008. "Taxing Property Transactions versus Taxing Property Ownership," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper0820, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    6. Dillon Alleyne & James Alm & Roy Bahl & Sally Wallace, 2004. "Tax Burden in Jamaica," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper0434, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.

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    Keywords

    Jamaica; Property Transfer Tax; Stamp Duty;
    All these keywords.

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