Montserrat Tax Tables 2023 - Tax Rates and Thresholds in Montserrat
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This page contains the tax table information used for the calculation of tax and payroll deductions in Montserrat in 2023. These tax tables are used for the tax and payroll calculators published on iCalculator™ MS, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Montserrat or would like to add to or suggest amendments to the information herein then please contact us.
2023 Tax Tables [Quick Links]
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Montserrat Personal Income Tax Tables in 2023
The Income tax rates and personal allowances in Montserrat are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Montserrat Tax Calculator 2023.
Montserrat Residents Income Tax Tables in 2023
Personal Income Tax Rates and Thresholds (Annual)| Tax Rate | Taxable Income Threshold |
|---|
| 20% | Income from $ 0.000.00 | to | $ 2,500.00 |
| 25% | Income from $ 2,500.01 | to | $ 8,500.00 |
| 30% | Income from $ 8,500.01 | | and above |
Montserrat Non-residents Income Tax Tables in 2023
Personal Income Tax Rates and Thresholds (Annual)| Tax Rate | Taxable Income Threshold |
|---|
| 20% | Income from $ 0.000.00 | to | $ 2,500.00 |
| 25% | Income from $ 2,500.01 | to | $ 8,500.00 |
| 30% | Income from $ 8,500.01 | | and above |
In Montserrat, social security contributions made by employees are typically considered for tax purposes, but the specifics can vary depending on current laws and regulations. Generally, in many jurisdictions, social security contributions or similar mandatory payroll deductions can lower taxable income, effectively reducing the income tax liability for the employee.
Montserrat Social Security and Payroll Deduction Rates in 2023
In Montserrat, the social security system is designed to protect workers and their families by providing essential financial support for retirement, health care, and in case of work-related injuries. The funding for these benefits comes from contributions made by both employers and employees, reflecting a shared commitment to the welfare of the workforce.
Montserrat Social Security in 2023: Rates for Employers and Employees| Category | Employee | Employer | Total |
|---|
| Montserrat Social Security Fund (MSSF) | 5% | 6% | 11% |
| Employment Injury | 1% | 0% | 1% |
Montserrat Social Security and Payroll Deduction in 2023: Earnings Thresholds for Employers and Employees| Category | Employee | Employer |
|---|
| Min. | Max. | Min. | Max. |
|---|
| Montserrat Social Security Fund (MSSF) | n/a | n/a | n/a | n/a |
| Employment Injury | n/a | n/a | n/a | n/a |
Montserrat VAT Rates in 2023
VAT rates for Montserrat are reviewed annually, you can use the VAT Calculator to calculate VAT due in Montserrat or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.
Montserrat VAT Rates| VAT Rate | VAT Description |
|---|
| 15% | Standard Rate |
Historic Tax Tables supported for Montserrat
The following tax tables are supported by iCalculator™ MS as part of the suite of free tax tools we provide for Montserrat.