Income tax on rent, worked example, in St. Vincent & Grenadines

July 28, 2016

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 72,000 144,000
Income Tax3
Flat rate 10% 2,304 4,834 4,834
Annual Income Tax Due - 3,771 3,771
Other Taxes4
Alien Land Holding Tax
Up to ECD100,000 ECD10,000 3,704 3,704 3,704
ECD100,000 - ECD3,000,000 6% - 2,098 6,418
Over ECD3,000,000 4% - - -
Total Tax Due 3,704 5,801 10,121
Annual Income Tax Due 5,504 13,001 24,521
Tax Due as % of Gross Income 30.58% 18.06% 17.03%
Source: Global Property Guide

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 are taxed at a flat rate of 10%. No deductions are allowed.

4 Nonresident individuals renting out their property in the islands are subject to alien land holding tax. This tax is levied at progressive rates on the aggregate rent of the property for the whole duration of the lease.

ALIEN LAND HOLDING TAX

AGGREGATE RENT, ECD (US$)
TAX RATE
Up to 100,000 (US$ 37,037 ) 10,000 (US$ 3703.703704)
100,000 - 3,000,000 (US$ 1,111,111 ) 6% on band over US$ 37,037
Over 3,000,000 (US$ 1,111,111 ) 4% on band over US$ 1,111,111
Source: Global Property Guide

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