Tax on property income in Montserrat
April 17, 2014
Effective Tax Rate on Rental Income
|Click here to see a worked example|
Global Property Guide
Nonresidents are taxed only on their Montserrat-sourced income.
Income tax is levied on the following income sources: (1) employment income, (2) income from business or trade, (3) interest from savings, (4) dividends, and (5) rental income. Income tax is levied at progressive rates.
Nonresidents are generally taxed at flat rate of 10%. Taxpayers are entitled to a personal allowance of ECD15,000 (US$5,556).
Nonresidents earning rental income in Montserrat is taxed at a flat rate of 10%.
Capital gains from the selling real property are not taxed in Montserrat.
Property taxes are levied on the annual market value of the land and the annual market value of the building structure as determined by the valuation officer (tax authorities). For residential properties, land tax is levied at 0.05% and building tax is levied at 0.25%.