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BVI Income Taxes and Tax Laws 2016




 









British Virgin Islands Income Taxes

August 2016

British Virgin Islands, BVI, Income Tax 2016

Companies and individuals are exempt from income tax in the BVI on all sources of income, including capital gains, rent, dividends, interest and royalties.
Withholding tax rates from payments to non-residents are:
Dividend -0%
Royalties - 0%
Interest - 0% (tax information regarding payments to EU residents is exchanged with EU tax authorities following the EU saving directive implemented by the BVI)

Note:
By January 2016 the BVI has signed TIED, Tax Information Exchange Agreements, with 27 countries, placing the BVI on the OECD white list.




BVI Other Taxes

Social Security

Employer - 4.5%
Employee -4%


The rates for national health insurance are:

Employer- 3.5%
Employee- 3.5%


Real Estate Taxes

Land Tax - a $ 50 tax is levied per acre . Building Tax - The annual tax rate is 1.5% of the annual rental income.

Stamp Tax

The 12% tax rate is imposed on real estate transactions.

Note: VAT, Inheritance and Gift tax, Capital acquisition tax and Net Wealth tax are not imposed in the BVI.

The BVI, located east of Puerto Rico, is a British overseas territory having an independent legal system.
The BVI has a population of 24,000 people, about 18,000 living in Tortola.
The currency in use in the BVI is the US dollar .







British Virgin Islands Company formation and Registration






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