iCalculator™ VC: Saint Vincent and the Grenadines Tax Calculators

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

Saint Vincent and the Grenadines Tax Calculator 2024/25

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

1. Employees in Saint Vincent and the Grenadines to calculate their annual salary after tax.
2. Employers to calculate their cost of employment for their employees in Saint Vincent and the Grenadines.

Taxation in Saint Vincent and the Grenadines: An Overview

Saint Vincent and the Grenadines, a country in the Lesser Antilles island arc, has a taxation system that comprises various types of taxes. This overview provides a general understanding of the different tax types and compliance mechanisms in place, without delving into specific tax rates.

Personal Income Tax

Personal income tax in Saint Vincent and the Grenadines is levied on the income of individuals. This includes salaries, wages, and other forms of compensation. Residents are taxed on their worldwide income, whereas non-residents are only taxed on income sourced within the country.

Corporate Income Tax

Corporate income tax is imposed on the profits of companies operating in Saint Vincent and the Grenadines. This tax is applicable to both local and foreign companies, with the taxable income being calculated on the net profits earned within the country.

Value Added Tax (VAT)

Value Added Tax (VAT) is a consumption tax levied on the sale of goods and services in Saint Vincent and the Grenadines. It is also applied to imports. VAT is charged at each stage of the supply chain and is collected by businesses on behalf of the government.

Customs Duties and Excise Taxes

Customs duties are levied on imported goods, while excise taxes are imposed on specific goods such as tobacco, alcohol, and certain luxury items. These taxes are designed to regulate the importation of goods and generate revenue from specific product categories.

Property Taxes

Property taxes are levied on real estate properties in Saint Vincent and the Grenadines. The tax is based on the property value and is payable by property owners.

Stamp Duties

Stamp duties are charged on legal documents such as contracts, agreements, and property transfers. The duty is typically a percentage of the value of the transaction or a fixed fee, depending on the nature of the document.

Compliance and Administration

The tax system in Saint Vincent and the Grenadines is administered by the Inland Revenue Department. Taxpayers are required to file returns and make payments by specified deadlines to ensure compliance. The country has also implemented various measures to prevent tax evasion and ensure efficient tax collection.