St. Vincent & Grenadines: Taxes and Costs
In Depth
- Overview
- Rental Yields
- Taxes and Costs
- Buying Guide
- Landlord and Tenant
- Inheritance
- Living There
- Country Statistics
Find Property
Directory
Global Statistics
Regional Statistics
- Buy/Sell Costs
- Rental Income Tax
- Capital Gains Tax
- Landlord & Tenant Law
- GDP Per Capita
- GDP/Cap Growth 1 yr
- GDP/Cap Growth 5 yrs
- Currency +/- Value
Taxes are generally low
INDIVIDUAL TAXATION
INCOME TAX
RENTAL INCOME
Non-resident individuals earning rental income in St. Vincent and the Grenadines are liable to pay withholding tax at a rate of 10% on their gross rent.
CAPITAL GAINS
There is no capital gains tax in St. Vincent and the Grenadines.
PROPERTY TAX
Alien Land Holding Tax
Nonresident individuals must pay an annual license fee to hold land in the islands at a flat rate of ECD2,500 (US$926).
In addition, non-resident individuals renting out their property in the islands are subject to the alien land holding tax. This tax is levied at progressive rates on the aggregate rent of the property for the whole duration of the lease.
ALIEN LAND HOLDING TAX |
|
| AGGREGATE RENT, ECD (US$) | TAX RATE |
| Up to 100,000 (US$37,037) | ECD10,000 (US$3,704) |
| 100,000 – 3,000,000 (1,111,111) | 6% on band over US$37,037 |
| Over 3,000,000 (US$1,111,111) | 4% on band over US$1,111,111 |
| Source: Global Property Guide | |
Property Tax
All developed land (i.e. land with buildings) and land in urban districts are currently taxed at a rate of 5% on the annual rental value. A minimum tax of ECD10 per acre is imposed on all properties.
For properties that are rented out as guest houses, property tax may be levied at 2.5%. For tourism related development where the occupancy tax is applicable and the annual rental value exceeds ECD20,000 (US$7,408), this tax may be levied at 1.5%.
Land Tax
All land owners in St. Vincent and the Grenadines are liable to pay land tax. Land tax is imposed at varying rates, depending on the location and size of the land. There are four scales of taxes; one for the mainland and three for the Grenadines.
LAND TAX IN ST. VINCENT |
|
| LAND ARE, IN ACRES | TAX RATE |
| Up to 10 acres | ECD1.50 (US$0.60) per acre |
| 10 acres – 100 acres | ECD3.00 (US$1) per acre |
| 100 acres – 500 acres | ECD6.00 (US$2) per acre |
| Over 500 acres | ECD9.00 (US$3) per acre |
| Source: Global Property Guide | |
LAND TAX IN BEQUIA, UNION ISLAND AND MUSTIQUE |
|
| LAND ARE, IN ACRES | TAX RATE |
| Up to 10 acres | ECD0.75 (US$0.30) per acre |
| Over 10 acres | ECD1.20 (US$0.45) per acre |
| Source: Global Property Guide | |
LAND TAX IN CANOUAN |
|
| LAND ARE, IN ACRES | TAX RATE |
| Up to 10 acres | ECD0.60 (US$0.20) per acre |
| Over 10 acres | ECD1.20 (US$0.45) per acre |
| Source: Global Property Guide | |
LAND TAX IN BALLICEAUX, PETIT NEVIS, |
|
| LAND ARE, IN ACRES | TAX RATE |
| Up to 10 acres | ECD0.30 (US$0.10) per acre |
| Over 10 acres | ECD0.60 (US$0.20) per |
| Source: Global Property Guide | |
St. Vincent & Grenadines - more data and information
Post a comment
Subscribe to our Newsletter!
Enter your email address to sign up.
RSS
Your Comments
Be the first to comment!