Tax on property income in Turks & Caicos Is.
INDIVIDUAL TAXATION
Turks and Caicos Islands is a neutral tax jurisdiction.
RENTAL INCOME
There are no income taxes levied in the Turks and Caicos Islands.
Business License
Business licenses are required to engage in leasing properties in the islands. The license fee depends on the category of business and ranges from US$50 to US$7,000 annually.
The business license period is from 01 April of the current year to 31 March of the succeeding year.
CAPITAL GAINS
There are no taxes on capital gains.
Stamp Duty on Property Transfers
Stamp duty on property transfers is levied at progressive rates, depending on the property value.
STAMP DUTY ON PROPERTY TRANSFER |
|
| PROPERTY VALUE, US$ | |
| Up to US$10,000 | |
| US$10,000 - US$75,000 | |
| Over US$75,000 | |
| Source: Global Property Guide | |