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Saint Vincent and the Grenadines: Domestic Taxation

Personal Taxation

Income tax is levied on all persons whose chargeable income is more than EC$18,000 per annum. Rates range from 10% to 32.5%. There is no capital gains tax.

A Value Added Tax (VAT) was introduced on 1 May 2007. The introduction of VAT replaced the five different consumption taxes, which were charged at rates of up to 55%, with one tax at a standard rate of 15%.

Although the standard rate is 15%, there is a reduced rate of 10% for hotel accommodation.

In addition to this, some commodities - including cars, petrol products, alcohol and cigarettes - are subject to an Excise Tax (at varying rates).

National Insurance (social security) Contributions are payable from salary up to EC$51,996 per annum at the following rates (2011):

  • Employer: 4.5%
  • Employee: 3.5%

Foreign nationals working in Saint Vincent and The Grenadines are subject to the same tax rate as nationals.

 

 

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