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Grenada

Living There

Last Updated: January 20, 2014

Grenada St GeorgeĀ“s harbour

INDIVIDUAL TAXATION

Residents are taxed on their income from Grenadian sources.

INCOME TAX

Income tax is levied at a flat rate of 30%. Employment income is only taxed if it exceeds ECD60,000 (US$22,222).

A proposed income tax table will have a income tax threshold of ECD30,000 (US$). Annual income between ECD30,000 (US$11,111) to ECD60,000 (US$22,222) will be taxed at 15%, and annual income exceeding ECD60,000 (US$22,222) will be taxed at 30%.

INCOME TAX

TAXABLE INCOME, ECD (US$) TAX RATE
Up to 30,000 (US$11,111)
0%
30,000 – 60,000 (US$22,222)
15%
Over 60,000 (US$22,222)
30%
Source: Global Property Guide

 

RENTAL INCOME
For income from other sources, the tax is levied on the net profits. Income-generating expenses are deductible when computing for the taxable income.

Annual Stamp Tax

This is a tax on gross receipts, replacing stamp on bills. Gross receipts include investment income, rental income, interest income dividends and other income not of a capital nature. The rates are:

ANNUAL STAMP TAX

TAX BASE, ECD (US$) TAX RATE
Up to 30,000 (US$11,111)
nil
30,000 - 100,000 (US$37,037)
0.25%
Over 100,000 (US$37,037)
0.50%
Source: Global Property Guide

CAPITAL GAINS
There is no tax on capital gains in Grenada.

Property Transfer Tax

Sales of real property are liable to property transfer tax, which is levied on the sales price or the property value at the time of the sale. The property transfer tax rates for sellers are 5% for citizens and 15% for non-nationals.


PROPERTY TAX


Property Tax

Property tax is levied on all real property n Grenada, payable by the owner or by the tenant, according to the lease agreement. The tax is levied on the market value of the property and a taxable rate is applied based on the classification of the property.

For residential properties, the tax is levied at 0.10% on land value and 0.15% on the structure/ building value.

CORPORATE TAXATION

INCOME TAX

Income earned by resident is taxed at the corporate tax rate of 30%. Income-generating expenses are deductible when calculating taxable income.

CAPITALGAINS

Alien Land Holding Tax

Resident companies are liable to pay land holding tax at 15% when buying property and selling property in Grenada.

Comments

barbara | August 06, 2010

what is the average rent for house in grenada,in american language? i pay 482 a month here in florida, what would i pay there, for 1bd, 1ba in american dollars. how does it compare?
barb

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Title: Living in Grenada | Life in Grenada

Description: A look at Grenadan life and living from the perspective of individual and corporate taxation

Keywords: global property guide, property guide, global property, Grenada, rental yields, overseas property, property markets, property investments