Tax on property income in St. Lucia

Taxation Researcher | January 22, 2018

INDIVIDUAL TAXATION

Nonresidents are taxed on their income from St. Lucia. Married couples are assessed and taxed separately.

INCOME TAX

Income is taxed at progressive rates.


INCOME TAX

TAXABLE INCOME, ECD (US$) MARGINAL TAX RATE
Up to 10,000 (US$3,704) 10%
10,000 - 20,000 (US$7,407) 15% on band over US$3,704
20,000 - 30,000 (US$11,111) 20% on band over US$7,407
Over 30,000 (US$11,111) 30% on all income over US$11,111
* Exchange Rate as of 15 June 2006: 1€ = YTL2.01.
Source: Global Property Guide

RENTAL INCOME
Rental income is taxed at progressive rates. When computing for the taxable rental income, expenses relating to the property can be set against income, including interest payments.

Stamp Duty on Property Leases

Lease agreements are subject to stamp duty at progressive rates. Different rates apply on leases for less than twenty years and on leases for over twenty years.

STAMP DUTY ON LEASES FOR LESS THAN 20 YEARS

ANNUAL RENT, ECD (US$) TAX RATE
Up to 3,000 (US$1,111) 2%
3,000 - 6,000 (US$2,222) 4%
6,000 - 12,000 (US$4,444) 6%
Over 12,000 (US$4,444) 8%

STAMP DUTY ON LEASES FOR OVER 20 YEARS

ANNUAL RENT, ECD (US$) TAX RATE
Up to 3,000 (US$1,111) 4%
3,000 - 6,000 (US$2,222) 6%
6,000 - 12,000 (US$4,444) 8%
Over 12,000 (US$4,444) 10%

CAPITAL GAINS
Capital gains are not taxed in St. Lucia.

Stamp Duty on Property Transfers

Sales of properties are subject to 0.25% stamp duty. The duty is levied on the market value of the property at the time of sale or the selling price.

Real Property Transfer Tax

Foreigners who transfer real property are subject to a flat rate of 10% transfer tax.


PROPERTY TAX

Land and House Tax

Property owners are liable to pay land tax on their property. The tax base is the assessed rental value of the property, as determined by the Inland Revenue Department.


LAND TAX

SIZE OF THE PROPERTY LAND TAX FEE
Up to 10 acres 0%
10 acres - 50 acres ECD0.25 (US$0.09) per acre
50 acres - 100 acres ECD0.50 (US$0.19) per acre
100 acres - 500 acres ECD0.75 (US$0.28) per acre
Over 500 acres ECD1.00 (US%0.37) per acre

House Tax

Residential property owners are required to pay property tax at 5% of the annual rental value, as determined by the Inland Revenue Department.

 

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