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Jamaica Tax Information

15% GCT

GCT (General Consumption Tax) is 15%. Registration required above JMD 10 million turnover. TRN required.

Financial Advisor Services to Invoice

  • Financial planning
  • Investment advisory
  • Retirement planning
  • Tax planning
  • Estate planning
  • Insurance review
  • Wealth management

Invoice Requirements in Jamaica

TRN number
GCT registration
Client TRN
Invoice number
GCT (15%)
Total in JMD

Payment Terms

Fee-only: project-based or AUM percentage. Flat retainer for ongoing planning.

CashNet 14Net 30COD

Payment Methods in Jamaica

Bank TransferNCBScotiabankCredit CardCash

Financial Advisor Invoice Tips

  • Include advisor registration
  • Reference advisory agreement
  • Note AUM if applicable
  • Document planning deliverables
  • Meet compliance requirements

Frequently Asked Questions

What tax rate applies to financial advisor invoices in Jamaica?

Jamaica has 15% GCT. GCT (General Consumption Tax) is 15%. Registration required above JMD 10 million turnover. TRN required.

What payment methods are common for financial advisors in Jamaica?

Common payment methods in Jamaica include: Bank Transfer, NCB, Scotiabank, Credit Card, Cash. Fee-only: project-based or AUM percentage. Flat retainer for ongoing planning.

What should financial advisor invoices include in Jamaica?

Your invoice should include: TRN number, GCT registration, Client TRN, Invoice number. For financial advisor services specifically, also include: Financial planning, Investment advisory, Retirement planning.

How should financial advisors structure fees?

AUM percentage (0.5-1.5%), flat retainer, hourly, or project-based. Disclose fee structure clearly.

What compliance info should be on invoices?

Advisor registration (CFP, RIA), firm info, and fee disclosure language as required.

What is Jamaica's GCT rate?

Jamaica applies 15% General Consumption Tax on most goods and services. Some basic food items and medical services are zero-rated or exempt.