Dominica: Taxes and Costs
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Rental income tax is high in Dominica
Income Tax
Rental income from residential properties earned by nonresidents is taxed at the following rates:
INCOME TAX |
|
| TAXABLE INCOME, XCD (€*) | MARGINAL TAX RATE |
| Up to 18,000 (US$6,667) | 20% |
| 18,000 - 48,000 (US$17,778) | 30% on band over US$6,667 |
| Over 48,000 (US$17,778) | 40% on all income over US$17,778 |
| Source: Global Property Guide | |
The income of a husband and wife are assessed separately, based on the income received in the previous calendar year. Municipal taxes, maintenance costs, and accountancy fees incurred in the preparation of an income tax return are deductible against the amount payable. Deductions on interest payments of up to XCD15,000 (US$5,556) are only allowed on owner-occupied property.
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.
There is no capital gains tax in Dominica.
Dominica - more data and information
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