Dominica: Taxes and Costs
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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.
Dominica - more data and information
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