Tax on property income in British Virgin Is.

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)        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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