• Tax Adjustment

    Tax Adjustment

  • Personal Income Tax Calculator

    Personal Income Tax Calculator

    Calculate your Personal Income Tax with ease. Read More
  • File Taxes Using Fillable Returns

    File Taxes Using Fillable Returns

    Complete and submit your taxes via email. No more waiting in line or completing paper forms. Read More
  • Unavailability of Online Support Service

    Unavailability of Online Support Service

  • Frequently Asked Questions (FAQ)

    Frequently Asked Questions (FAQ)

    Do you have a question or need clarification from us? Visit the FAQ page today! Read More
  • Tax Due Dates

    Tax Due Dates

    Know the Tax Due Dates to avoid penalties and other charges. Read More
  • Licenses

    Licenses

    Learn about the various licenses at the Inland Revenue Division. Read More
  • Klub IRD

    Klub IRD

    Learn more about Klub IRD and how YOU can participate Read More
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Did You Know

  • The new Income Tax Amendment for 2020 is called the Residential Tax
  • That this tax is payable only on Residential rent
  • That Income from that source should be filed separately from that disclosed on your Personal Income Tax Return
  • That the Tax, Residential Rent, is 20% of the Net Income
  • That the tax is due by March 31, 2021
  • That the unpaid tax payable attracts penalty of 10% and monthly interest of 1%

Current Income Tax Rates

Effective 1st January 2018, every resident individual, is entitled to the Resident Allowance of $30,000.00.

On the chargeable income of every individual, unincorporated body of persons or trustees:

Income Range
0 to 30,000 for every dollar on the first $30,000 no tax
30,001 to 50,000 for every dollar on the next $20,000 tax @ 15%
50,001 to 80,000 for every dollar on the next $30,000 tax @ 25%
80,001 and above on ever dollar in excess of 80,001 tax @ 35%

 

Rates broken down on a monthly basis as follows:

  • Resident Allowance -2,500.00 (30,000/12)
  • The next $1,666.67 @ 15% (20,000/12*15%)
  • The next $2,500.00 @ 25% (30,000/12*25%)
  • $6,666.67 - every chargeable income in excess of 6,666.66 is tax at a rate of 35%

 

Effective 1st January 2016, tax on the Chargeable Income of a company, on every dollar thereof at 25%.