Methodology
Our statutory rate verification methodology
Every rate on caribbeanhr.com is tied to the authority that sets it and reviewed when that authority publishes a change. This page lists the sources, the benchmarks we use where a figure depends on a contract, and the review cycle.
Reviewed 6 Nov 2026 · 2026 statutory rulesD-02
Authorities and statutes
Rates are read from the authority’s own notices, gazetted amendments and budget measures. Where a rule has a scheduled change (for example Trinidad’s NIS step to 19.2% in January 2027, or Jamaica’s PAYE threshold rising on 1 April 2026), the calculator uses the rule in force on the review date and the page states the change.
| Jurisdiction | Payroll / tax authority | Social security | Severance statute |
|---|---|---|---|
| Jamaica | Tax Administration Jamaica (TAJ) — S01, S02 | NIS, NHT, HEART/NSTA Trust | Employment (Termination and Redundancy Payments) Act |
| Trinidad & Tobago | Board of Inland Revenue / IRD | NIBTT | Retrenchment and Severance Benefits Act |
| Barbados | Barbados Revenue Authority | National Insurance and Social Security Service | Severance Payments Act, Cap. 355A; Employment Rights Act |
| Guyana | Guyana Revenue Authority | National Insurance Scheme | Termination of Employment and Severance Pay Act |
| Dominican Republic | DGII | TSS, INFOTEP | Código de Trabajo, Law 16-92 |
| The Bahamas | — | National Insurance Board | Employment Act |
| Cayman Islands | — | Department of Labour and Pensions; Health Insurance Commission | Labour Act |
| Bermuda | Office of the Tax Commissioner | Social Insurance; Pension Commission | Employment Act |
| Puerto Rico | IRS; Departamento de Hacienda | SSA; DTRH (SUTA, SINOT); CFSE | Law 80 (wrongful discharge) |
| St. Lucia | Inland Revenue Department | National Insurance Corporation | Labour Code |
| Curaçao | Inspectie der Belastingen | SVB | Labour regulations (Landsverordening) |
| Aruba | Departamento di Impuesto | SVb, AZV | Labour regulations |
Benchmarks and how they are labelled
Some inputs are not statutory and depend on the market or your contract. They are always labelled "benchmark" in the result and can be overridden where it matters.
| Benchmark | Value | Basis |
|---|---|---|
| FX (USD 1 =) | JMD 158 · TTD 6.78 · BBD 2.00 · GYD 209 · DOP 63.5 · BSD 1 · KYD 0.8333 · BMD 1 · XCD 2.70 · ANG 1.79 · AWG 1.79 | Pegged rates where pegged; others approximate November 2026 mid-market |
| Global EOR fee | $599 PEPM (Multiplier $450, Papaya $650, Pebl $649) | Published list prices and quotes seen in 2026 |
| Regional EOR fee | $250 PEPM (range $195–$350) | Quotes from in-country operators |
| FX spread | 2.5% global (1.5%–3.5%); 0.5% regional | Commonly quoted conversion margins |
| Payroll bureau | $45 PEPM (range $25–$65) | Bureau quotes |
| Cost of capital on deposits | 8% a year | Typical mid-market cost of working capital |
| DR TSS reference minimum wage | DOP 24,990 / month | For TSS caps; confirm the current TSS figure |
| Cayman SHIC premium | USD 400 / month, split 50/50 | Standard health contract benchmark |
Review cycle and corrections
- Each jurisdiction is reviewed at least quarterly and whenever its budget or social-security authority publishes a change.
- Changes are applied to the calculator engine and the jurisdiction hub on the same day, and the review date in the page header is updated.
- Corrections from readers are welcome at hello@caribbeanhr.com; we reply with the source we relied on.
The calculators produce estimates for budgeting and negotiation. They are not payroll, tax or legal advice; run payroll on the authority’s current tables and take advice on terminations.
Straight answers
FAQs
How often are the rates updated?
At least quarterly, and on the day an authority publishes a change that affects a calculator.
Why do some results say benchmark?
Exchange rates, provider fees, salary levels and some minimum-wage references depend on the market or your contract. They are labelled so you know which numbers to replace with your own.
Can I report an error?
Yes. Email hello@caribbeanhr.com with the page and the figure; we check it against the authority’s notice and update the page.
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Every quote states
- Fee per employee per month, in writing
- FX method and the spread on payroll funding
- Deposit size and when it is returned
- The legal entity that employs your staff