Income tax on rent, worked example, in Grenada

October 10, 2018

Non-resident couple´s rental income1      
Monthly Rental Income2 1,500 6,000 12,000
Annual Rental Income 18,000 72,000 144,000
= Taxable Income 18,000 72,000 144,00
Income Tax3
Up to € 12,000 15% 2,700 10,800 21,600
Annual Income Tax Due 2,700 10,800 21,600
Tax Due as % of Gross Income 15.00% 15.00% 15.00%

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 January 27, 2016.

Notes


1 The property is jointly owned by husband and wife.

2 Exchange rate used: 1.00 US$ = 2.70 ECD

3 Gross rental income earned by nonresident individuals is taxed at a flat rate of 15%. /p> 

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