How do Tourism Attractions benefit under the Omnibus Incentives framework?

How do Tourism Attractions benefit under the Omnibus Incentives framework?

Jamaica Tourist Board (JTB) licensed Attractions benefit from the following incentives:

  • Employment Tax Credit (ETC) and thus face a corporate income tax as low as 17.5% 
  • Capital Allowances that cover, among other things, a broadened definition of ‘industrial buildings’ to include hotels
  • Duty-free Importation of Equipment and Machinery, as well as revised tariff rates ranging from 0% to no higher than 20% (with some exceptions).
  • Productive Input Relief (PIR) that provides for duty free importation of certain hotel industry-related items that would have normally attracted customs duties and the Additional Stamp Duty (ASD) when these are being purchased for productive use. 

Tourism Attraction projects can also benefit under the Income Tax Relief (Mega Projects and Pioneer Industries) Act, where they qualify, for an attractive rate under the Employment Tax Credit (ETC) system.