Property Transfer Tax and Stamp Duty
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.
|Date of creation:||01 Dec 2004|
|Date of revision:|
|Contact details of provider:|| Phone: 404-413-0235|
Web page: http://aysps.gsu.edu/isp/index.html
When requesting a correction, please mention this item's handle: RePEc:ays:ispwps:paper0427. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Paul Benson)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.