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Taxes And Costs
 
Jan 20, 2009

Income tax is high in Dominica

INDIVIDUAL TAXATION

Non-residents are taxed on their Dominican-sourced income. The income of a husband and wife are assessed separately.

INCOME TAX

Income earned by non-residents is taxed at progressive rates.

INCOME TAX

TAXABLE INCOME, ECD (US$) TAX RATE
Up to 20,000 (US$7,407) 18%
20,000 - 50,000 (US$18,518) 28% on band over US$7,407
Over 50,000 (US$18,518) 38% on all income over US$18,518
Source: Global Property Guide

RENTAL INCOME
Rental income from residential properties is taxed at progressive income tax rates. Municipal taxes, maintenance costs, and accountancy fees incurred in the preparation of an income tax return are deductible.

Deductions on interest payments of up to ECD15,000 (US$5,556) are only allowed on owner-occupied property.

CAPITAL GAINS
There is no capital gains tax in Dominica.


PROPERTY TAX


Municipal Tax

There are no real property taxes in Dominica but there are municipal taxes levied on properties located in the cities of Roseau and Canefield. The tax rate is 11/4% (2.75%) levied semi-annually.

 



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