Global Property Guide

Financial Information for Residential Property Buyers


Living There

April 17, 2014

INDIVIDUAL TAXATION

Residents are taxed on their worldwide income.

INCOME TAX

Income tax is levied on the following income sources: (1) employment income, (2) income from business or trade, (3) interest from savings, (4) dividends, and (5) rental income. Income tax is levied at progressive rates, with the maximum rate at 30%.

INCOME TAX

Taxable Income, ECD (US$) Tax Rate
Up to 5,000 (US$1,852) 5%
5,000 – 10,000 (US$3,704) 15%
10,000 – 15,000 (US$5,556) 25%
15,000 – 135,000 (US$50,000) 30%
Over 135,000 (US$50,000)   40%

Taxpayers are entitled to a personal allowance of ECD15,000 (US$5,556).

CAPITAL GAINS
Capital gains from the selling real property are not taxed in Montserrat.


PROPERTY TAX

Property Tax

Property taxes are levied on the annual market value of the land and the annual market value of the building structure as determined by the valuation officer (tax authorities). For residential properties, land tax is levied at 1.65% and building tax is levied at 0.30%.

PROPERTY TAX

Land Usage Land Tax Rate Building Tax Rate
Agricultural 2% (not applicable)
Business 1% 0.05%
Residential 0.05% 0.025%

CORPORATE TAXATION

INCOME TAX

Income earned by companies is subject to corporate income tax at a flat rate of 20%. Income-generating expenses are deductible from taxable income.

CAPITAL GAINS

Capital gains from the selling real property are not taxed in Montserrat.

Comments

Be the first to comment on this article!

Login or Register to submit a comment!
In order to promote open and spam-free conversations, Global Property Guide moderates commetns on all articles. You can expect that your comment will be published within 24 hours.