Tax on property income in St. Vincent & Grenadines
Effective Tax Rate on Rental Income |
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| Monthly Income | US$1,500 | US$6,000 | US$12,000 |
| Tax Rate | 31% | 18% | 17% |
| Click here to see a worked example | |||
| Source: Global Property Guide research |
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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, |
|
| 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.