Global Property Guide

Financial Information for Residential Property Buyers


Taxes are generally low

January 24, 2018

INDIVIDUAL TAXATION

Nonresidents are taxed on their income from sources in St. Vincent and the Grenadines. Married couples are assessed and taxed separately.

INCOME TAX


RENTAL INCOME
Nonresident individuals earning rental income in St. Vincent and the Grenadines are liable to pay withholding tax at a rate of 10% on their gross rent.

Alien Land Holding Tax on Property Leases

Nonresident individuals must pay an annual license fee to hold land in the islands at a flat rate of ECD2,500 (US$925).

In addition, nonresident individuals renting out their property in the islands are subject to the 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

PROPERTY VALUE , ECD (US$) TAX RATE
Up to 100,000 (US$37,037) ECD10,000 (US$3,704)
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

CAPITAL GAINS
There is no capital gains tax in St. Vincent and the Grenadines.

Property Transfer Tax

Real property transfers by foreigners are subject to transfer tax at a flat rate of 10%.

Alien Land Holding Tax

Nonresident individuals selling their property in the islands are subject to the alien land holding tax. This tax is levied at progressive rates on the property value at the time of the sale

ALIEN LAND HOLDING TAX

PROPERTY VALUE , ECD (US$) TAX RATE
Up to 100,000 (US$37,037) ECD10,000 (US$3,704)
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

Property Tax

All developed land (i.e. land with buildings) and land in urban districts are currently taxed at a rate of 5% on the annual rental value. A minimum tax of ECD10 (US$2.85) per acre is imposed on all properties.

For properties that are rented out as guest houses, property tax may be levied at 2.5%. For tourism related development where the occupancy tax is applicable and the annual rental value exceeds ECD20,000 (US$7,407), this tax may be levied at 1.5%.

Land Tax

All land owners in St. Vincent and the Grenadines are liable to pay land tax. Land tax is imposed at varying rates, depending on the location and size of the land. There are four scales of taxes; one for the mainland and three for the Grenadines.

LAND TAX IN ST. VINCENT

LAND ARE, IN ACRES TAX RATE
Up to 10 acres ECD1.50 (US$0.56) per acre
10 acres - 100 acres ECD3.00 (US$1.11) per acre
100 acres - 500 acres ECD6.00 (US$2.22) per acre
Over 500 acres ECD9.00 (US$3.33) per acre
Source: Global Property Guide

LAND TAX IN BEQUIA, UNION ISLAND AND MUSTIQUE

LAND ARE, IN ACRES TAX RATE
Up to 10 acres ECD0.75 (US$0.28) per acre
Over 10 acres ECD1.20 (US$0.44) per acre
Source: Global Property Guide

LAND TAX IN CANOUAN

LAND ARE, IN ACRES TAX RATE
Up to 10 acres ECD0.60 (US$0.28) per acre
Over 10 acres ECD1.20 (US$0.44) per acre
Source: Global Property Guide

LAND TAX IN BALLICEAUX, PETIT NEVIS,
SAVANNE, ISLE-A-QUATRE & MYREAU

LAND ARE, IN ACRES TAX RATE
Up to 10 acres ECD0.30 (US$0.11) per acre
Over 10 acres ECD0.60 (US$0.22) per
Source: Global Property Guide

CORPORATE TAXATION

INCOME TAX

Income by corporations is subject to corporate income tax at a flat rate of 32.50%. Income-generating expenses are deductible when calculating taxable income.

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.