Minimal taxation of properties in both St. Kitts & Nevis
January 18, 2018
Effective Tax Rate on Rental Income
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There is no income tax in St. Kitts and Nevis.
Rental income is generally not subject to tax.
Rental income remitted to individuals or companies outside of St. Kitts is subject to 10% withholding tax.
No capital gains tax is levied in St. Kitts and Nevis, except on assets sold within one year of acquisition, which are taxed at 20%. There are no allowable deductions.
Property tax is levied at different flat rates, and the applicable tax rate depends on the property classification and its location.
Residential property is subject to property tax at a flat rate of 0.002% in St. Kitts.
Commercial property is subject to property tax at a flat rate of 0.003% in St. Kitts.
Residential property is subject to property tax at a flat rate of 0.0075% in Nevis. Commercial property is subject to property tax at a flat rate of 0.002% in Nevis.
Income and capital gains earned by corporations are taxed at a flat rate of 33%. Income-generating expenses are deductible when calculating taxable income.