Vanuatu: Worked Example of Tax on Rent
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Last Updated: Oct 03, 2006
Tax Example: Rent
| Non-resident couple's joint monthly rental income1 | US$1,500 | US$6,000 | US$12,000 | |
| Annual Rental Income | 18,000 | 72,000 | 144,000 | |
| Less Cost2 (25%) | 4,500) | (18,000) | (36,000) | |
| = Taxable Income | 13,500 | 54,000 | 108,000 | |
| Income Tax Rates3 | ||||
| Flat Rate | 12.5% | 1,688 | 6,750 | 13,500 |
| Annual Income Tax Due | US$1,688 | US$6,750 | US$13,500 | |
| Tax Due as % of Gross Income | 9.375% | 9.375% | 9.375% | |
Thanks to:   |
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DISCLAIMER: The information contained above is marketing material only and is not written tax advice directed at the particular facts and circumstances of any person and should not be relied upon. We encourage you to discuss your particular situation with us or an independent tax advisor. This information was last updated on October 03, 2006.
Notes
1 The residential property is jointly owned by husband and wife.
2 Costs include VAT (12.5%), municipality rates (8%), insurance (3%), repairs and maintenance (5%) and realtors letting fees (7%).
3 Rent tax is levied at a flat rate of 12.5%.
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