British Virgin Islands Income TaxesAugust 2016
British Virgin Islands, BVI, Income Tax 2016Companies 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:
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 SecurityEmployer - 4.5%
The rates for national health insurance are:Employer- 3.5%
Real Estate TaxesLand Tax - a $ 50 tax is levied per acre . Building Tax - The annual tax rate is 1.5% of the annual rental income.
Stamp TaxThe 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.
Note: The information in this site is for general guidance only. Users of this site are advised to take professional advice before taking practical tax decisions.
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