iCalculator™ AI: Anguilla Tax Calculators

Welcome to iCalculator™ AI, your comprehensive suite of free tax calculators for Anguilla. iCalculator™ has provided free tax calculators for Anguilla since 2019. Since those early days we have extended our resources for Anguilla to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. The Anguilla Tax Calculator and salary calculators within our Anguilla tax section are based on the latest tax rates published by the Tax Administration in Anguilla. In this dedicated Tax Portal for Anguilla you can access:

Anguilla Tax Calculator 2024/25

The Anguilla Tax Calculator below is for the 2024 tax year, the calculator allows you to calculate income tax and payroll taxes and deductions in Anguilla. This includes calculations for

1. Employees in Anguilla to calculate their annual salary after tax.
2. Employers to calculate their cost of employment for their employees in Anguilla.

Discover Anguilla

Anguilla, a picturesque island in the eastern Caribbean Sea, is a British Overseas Territory. It is prominently situated as the most northerly of the Leeward Islands in the Lesser Antilles, lying approximately 12 miles north of Saint Martin and 60 miles northwest of Saint Kitts. This location makes Anguilla a unique blend of vibrant cultural influences and breathtaking natural beauty. The main island of Anguilla stretches about 16 miles long and is up to 3.5 miles wide, with its capital, The Valley, serving as the administrative center. The island is known for its relaxed atmosphere, stunning beaches, and waters, making it an appealing tourist destination. The territory also includes several smaller uninhabited islands like Dog, Scrub, and Sombrero, as well as the Prickly Pear Cays.

Anguilla’s economy is largely driven by tourism and its related construction industry. The island has become a coveted destination for luxury tourism, which has spurred growth in the construction sector. Offshore finance is another significant contributor to the economy. Anguilla became a notable jurisdiction for captive insurance in 2011, reflecting the increasing importance of its financial services industry. Other industries include boat building, and the island consumes electricity produced entirely by fossil fuels. Despite its size, Anguilla has a relatively diverse agricultural production, including tobacco, vegetables, and cattle raising.

Culturally, Anguilla boasts a rich heritage and a diverse population. The demonym for residents of Anguilla is Anguillan. The government operates under a parliamentary dependency system under a constitutional monarchy, with the current monarch being Charles III. The legal system is based on the English model, and the island’s political and administrative structures are closely tied to the United Kingdom.

Overview of Taxation in Anguilla

Anguilla, a British Overseas Territory in the Caribbean, is known for its appealing tax structure. The island does not impose personal income tax, corporate income tax, or capital gains tax, making it an attractive destination for individuals and businesses alike. This unique taxation environment positions Anguilla as a favorable jurisdiction for offshore financial activities.

Types of Taxes in Anguilla:

• Goods and Services Tax (GST): GST in Anguilla is levied on the consumption of goods and services. It applies to imports and value-added goods and services supplied by GST-registered businesses. GST registration is mandatory for businesses with annual gross sales exceeding a certain threshold.
• Property Tax: Property tax is imposed annually and is calculated based on the value of the land. Different rates apply for local and foreign property owners.
• Stamp Duty: Stamp duty is applicable on various documents and transactions, with rates varying based on the nature of the document or transaction.
• Universal Social Levy (USL): USL is a levy on salaries or wages of employees earning above a specified amount. Employers match the levy percentage of the employee's remuneration.
• Money Transmission Levy: This levy is imposed on funds transmitted outside of Anguilla, charged by licensed money service businesses.

Tax Compliance and Reporting:

Businesses and individuals in Anguilla are required to comply with various tax regulations. For GST, businesses must remit the collected tax to the government by a specified date each month. Property tax payments are due semi-annually, and failure to comply may result in penalties. The Universal Social Levy requires employers and self-employed individuals to file returns and make payments based on stipulated rates. Additionally, financial institutions are subject to regulations for reporting and compliance under international agreements for information exchange in tax matters.

Accounting and Auditing:

Companies in Anguilla are required to maintain accurate accounting records to reflect their financial position. While there is no mandate to file financial statements or conduct audits, companies must keep records and documentation, which may be required for inspection by authorities.

Anguilla's tax system, characterized by the absence of major direct taxes and a focus on indirect taxation and levies, along with its compliance requirements, presents a distinctive framework for financial activities on the island.