Tax on property income in British Virgin Is.
Effective Tax Rate on Rental Income |
|||
| Monthly Income | US$1,500 | US$6,000 | US$12,000 |
| Tax Rate | 0.00% | 0.00% | 0.00% |
| Click here to see a worked example | |||
INDIVIDUAL TAXATION
Income Tax
There are no taxes on income and capital gains in the British Virgin Islands, which is an overseas territory of the United Kingdom.
CAPITAL GAINS
There is no capital gains tax or inheritance tax in the BVI.
STAMP DUTY ON PROPERTY TRANSFERS
Stamp duty on property transfers depends on the status of the buyer; whether he is a resident or non-resident. The tax base is either the sales price or the market value of the property, whichever is higher.
STAMP DUTY ON PROPERTY TRANSFERS |
|
| STATUS OF THE BUYER | RATE |
| Resident | 4% |
| Non-resident | 12% |
| Source: Global Property Guide | |
PROPERTY TAX
Land Tax
Land tax for non-belonger property owners (foreigners) is generally levied at US$50 per acre.
LAND TAX FOR NON-RESIDENTS |
|
| LAND SIZE, IN ACRES | RATE |
| Up to 0.50 acre (2,023 sqm)Â Â Â Â Â Â Â | US$50 |
| 0.50 acre - 1 acre (4,046 sqm) | US$150 |
| Any additional acre | US$50 each additional acre |
| Source: Global Property Guide | |
Belongers (nationals) pay land tax at reduced rates, compared to non-belonger property owners (foreigners).
LAND TAX FOR RESIDENTS |
|
| LAND SIZE, IN ACRES | RATE |
| Up to 1 acre (4,046 sqm) | US$10 |
| Over 1 acre (4,046 sqm) | US$3 each additional acre |
| Source: Global Property Guide | |
Real Estate Tax
Building tax is imposed at a flat rate of 1.5% of the assessed annual rental value (ARV). This tax is payable every 01 September annually.
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