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Grenada

Income tax is moderate in Grenada

Last Updated: January 20, 2014

INDIVIDUAL TAXATION

Grenada luxury vacation homes

Nonresidents are taxed on their income from sources in Grenada.

INCOME TAX

Income earned by nonresident individuals is subject to a flat tax rate of 15%, generally withheld at source.

RENTAL INCOME
Rental income earned by nonresidents is subject to 15% withholding tax, withheld by the tenant.

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

CAPITALGAINS

Alien Land Holding Tax

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

 
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Title: Grenada capital gains tax rates, and property income tax

Description: A complete guide to Grenadan capital gains tax rates, property and real estate taxes

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