Skip to main content

Income Tax Act

INCOME TAX
THE INCOME TAX ACT
ORDERS
(under section 2)
The Income Tax (Approved Public Utility) (The
Jamaica Telephone L.N. 76170
Company Limited) Order, 1970
Similar Orders made in respect
of

The Jamaica Public Service Company Limited
Kingston Wharves Limited L.N. 73/69
L.N. 31Y65
(For subsequent Orders, please see tk Guide to Subsidiary
Legislation)
The Income Tax
(Recognized Stock Exchange) Order, 197 1 L.N. 2BW71
The Income Tax (Approved Overseas Organizations) Order, 1976 L.N. 134/76
Other Approved Overseas Organizations L.Nn. 369N76, W7. 229V77. 53W81
(For subsequent Orders, please see the Guide to Subsidiary
Legislation)
The Income Tax (Approved Fund) (Capital Development Fund)
Order, L.N. 130A183
1983
ORDER
(under section
5 (1) (c), proviso (iv))
The Income Tax (Termination of Employment Payments) Order, 1971
L.N.
ORDER
(under section
M (2))
The Income Tax (Concessionary Loans) (Prescribed Rate of Interest)
L.N. 17’2003
Order, 2003
ORDERS
(under section 12)
[The Inclusion of this page b authorized by L.N. 33A/ZOOS]

INCOME TAX
ORDERS
(under section
l3(l)(q))
L.N. 414N76 Vide The Income Tax (Approved Charitable Organizations) Order, 1976 L N. 148/77
Other Approved Charitable Organizations L.Nn. 46/77, 148/77, 201177, 274i77. 107N78, II2W78, ISlEJ78, 33Y179. 80179, 971179, 109D178.
109EJ79, 1486179
(For subsequent Orders, please see the Guide to Subsidiary
Legislation) ‘. J
L N. 47/77 The Income Tax (Approved Educational Institutions) Order, 1977
Other Approved Educational Institutions L.Nn. 147177, 202177, 336177, 41178, 63/78, 82U79, 978179, 97U79
(For subsequent Orders, please see the Guide to Subsidiary
Legislation)
NOTICE
(under section
14A)
L.N. 51/76 The Income Tax (Relief: Employment of Additional Workers) Notice,
1976
ORDERS
(under section 364 and 36B)
ORDERS
(under section 360
(1))
L.N. 92~183 The Income Tax (Approved Farmer) (Eastern Banana Estates Limited)
Order,
1983
Other Approved Farmers L.N. llSN83
(For subsequent Orders, please see the Guide to Subsidiary i
Legislation)
ORDER
(under section 360
(1 4))
L.N. 128472
13A183 The Income Tax (Prescribed Agricultural Activities) Order, 1982
[The Inclusion of thb page is authorized by L N. 33N2005j

INCOME lMX
ORDER
(under section 40 (1) (b) )
The Income Tax (Deduction of Tax) Order. 1971 L.N. 294~171
Nm (utder section 48 (6) )
The Income Tax (Island Life Insurance Company Limited) Notia. L.N. 310174 1974
Si& Notices issued in respect of-
The Caribbean Atlantic Life Insurance Company Limited L.N. 438171
The Manufacturem Life Insurance Company L.N. 437171
(For subsequent Noticeg please see the Guide to Subsidiary
Legidation)
PRESCRIBED FORMS
(under sections 58, 66 and 67)
ORDER .
(under section 79 (1) (b) )
The Income Tax (Rate of Interest) Order. 1986 L.N. 9514186
ORDER
(under section 81(2) )
The Income Tax (Interest on Exass Payment) Order, 1971 L.N. ~8171
ORDERS
(under section 83) Cfor income tar) (Omlrfd)
me inclusion of tbh page iP authorized by L.N. 73119991

4 INCOME TAX
ORDERS
(ornltttl) (under section 83 and
under section 45 of the Transjer Tax Act)
Uor
transfer
tax)
NOTICES
(under section 86)
REGULATIONS
(under section 92)
L N. 37s a The Income Tax (Valuation of Housing Accommodation) Regula-
& tions. 1964
RULES
(Lmdcr section 93)
N. 1 The Income Tax (Superannuation Funds) Rules. 1955
L.N. 27/88 The Income Tax (Approved Retirement Schemes) Rules. 1988
REGWTIONS
(under section 94)
RWS
(under secrion 94)
ORDER
(under section 95)
L.N. n156 The Income Tax (Commonwealth Tenitories) Order. 1956
NOTICB
(Omitted) (under paragraph 2 of Part Vlll of the First Schedule to the Act)
DBCWRATION
(under the Fifth Schedule to the Act)
L.N. mr~w The Income Tax (Approved Penons) (Fifth Schedule) Declaration.
1996
me includm of thtr page is authorized by L.N. 731 19991

INCOME TAX
DIREms
(under the Fifth Schedule to the Act)
The Inme Tax (Specified Account) (Fifth Schedule) Directions. L.N. mc/%
19%
ORDERS
(saved by section 80 (now omitted) of Law 59 of 1954) (omurts)
me ladudon of thb page is authorized by L.N. 731 19991

INCOME TAX
THE INCOME TAX ACT
ORDER
(under section 2)
(Ma&
by the Minister on the 7th day of April, 1970) L.N. 76/70.
1. This Order may be cited as the Income Tax (Approved Public
Utility)
(The
Jamaica Telephone
CompiXny Limited) Order. 1970.
Z The Jamaica Telephone Company Limited is hereby declared to
bc an approved public utility for the purposes of paragraph (s) of
section 12
of the Act.

INCOME TAX
THE INCOME TAX ACT
ORDER
(under section 2)
(Made by the Minister on the 31st day of July, 1971) L.N. 280171
[Ist January, 1970.1
1. This Order may be cited as the Income Tax (Recognized Stock
Exchanges) Order. 1971.
2. The stock exchanges set out in the Schedule shall be recognized schedule.
stock exchanges for the purposes of the Act, in addition to the Jamaica
Stock Exchange.
SCHWULE (Paragraph 2)
The London Stock Exchange
The Zurich Stock Exchange
The American Stock Exchange
The New York Stock Exchange.
[The inchuion of this page is authorized by L.N 286119761

INCOME TAX
THE INCOME TAX ACT
ORDER
(under section 2)
(Made
by the Minister on the 20th day of Aprt7, 1976) L.N. 134116
1. This Order may be cited as the Income Tax (Approved Overseas
Organizations) Order, 1976.
2. The Orphtions
set out in the Schedule shall be approved schedule.
overseas organizations for the purposes of the Act
Chase Manhattan Bank, Nassau
Chase Manhattan Bank, New
York
Canadian Imptrial Bank of Commerce, &a&.
me inclusion of this pa86 in authorized by L.N. %I19771

INCOME TAX
THE INCOME TAX ACT
ORDER
(under section 2)
(Made by the Minister on the 2nd
day of November, 1983) L.N. 130~183
1. This Order may be cited as the Income Tax (Approved Fund)
(Capital Development Fund) Order, 1983.
2. The Capid Development Fund is hereby declared to be an ap
proved fund for the purposes of seotion 12 of the Act.
me inclusion of this page is authorized by L.N. 160119841

INCOME TAX
THE INCOME TAX Am
C)RDBR
(under section 5 (1) (c), proviso (iv) )
(Made by the Minister on the 11th day of October, 1971) L.N. 4~171
1. This Order may be cited as the Income Tax (Termination of
Employment Payments) Order,
197
1.
2 In this Order “lump sum” means any payment other than a
periodical payment.
3. The emoluments falling within paragraph (c) of subsection (1)
of section
5 of the Act shall not include so much of any lump sum
paid
in respect of the termination of employment of a person (whether
paid
to him or any other person) as satisfies any of the following
descriptions.
namely-
(a) a lump
sum
paid out of an approved superannuation fund
in accordance with the rules of the fund on the retirement
of that
person at
the retirement age specified in those rules
or at
an earlier age on his becoming physically or mentally
incapacitated, and not
exding, except in
the case of a person
who
ha acquired rights in the fund before the 11th day of
October, 1971,
the limit mentioned in paragraph (b) of, or
proviso (iv) to subsection
(2) of section 44 of the Act (which-
ever is applicable);
(b) a lump
sum not falling within sub-paragraph (a) paid pursuant
to a retirement benefits scheme approved under subsection
(1) of section 61 of
the Act on the ntiremcnt of that person
at the specified retirement age or at an earlier age on his
becoming physically or mentally incapacitated and not
exceed-
ing, except in the case of a person who has acquired rights
under the scheme before the llth day of October. 1971, the
limit specified
in sub-paragraph (a):
(c) a lump
mun not falling within sub-paragraph (a) or (b) paid
out of an
approved
supemuation
fund
in accordance with
ITW indudol! of thb ~ge is autbo- by L.N. %/1977j

I.
10 THE INCOME TAX (TERMINATION OF EMPLOYMENT PAYMENTS) a
** ORDER, 1971 . .*
the rules of the fund or paid pursuant to such schemes as
aforesaid and not exceeding the aggregate of the contributions
made by that person to the fund or scheme, and not
previolsly
returned, together with any interest allowed thereon, provided
that
in the case of a person who acquired rights before the
11th
day of October. 1971, an additional amount not exceed-
ing the aggregate of the contribution to the fund or scheme
made by
the employer in respect of such person and not
previously paid to
him may also be included in the lump
sum payment;
a
lump
sum paid by the employer to or in respect of that
person as compensation for
his having become physically or
mentally incapacitated, where the Commissioner is satisfied
by medical evidence that the incapacity is permanent;
(e) a lump sum paid by the employer to or in respect of that
person as a terminal gratuity or
severancc
or redmdancy
payment, or as compensation for wrongful dismissal, or other-
wise as compensation for loss of employment. where-
(i) the employment subsisted continuously for not less
than three years;
(ii) the average emoluments over the last three years of
the employment were more
than $7.000 p.a; and
(iii) the lump sum dots not exceed two and a quarter times
the average annual emoluments of that person over
the last three years of the employment where the
employment subsisted for not less than thirty-three
and one-third years, or a proportionately smaller
amount where it subsisted for a shorter period;

-->