| INCOME TAX |
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| This is regulated by the Income Tax Act of 1994. The rate of tax is 30 per cent whether corporation or personal. Individuals are allowed the first $60,000.00 per annum tax free. Corporations are allowed the usual deductions for expenses incurred in earning the income. There is a Withholding Tax of 15% Rental income is also taxed at 30% There is no tax on dividends or on interest earned. There is no Capital Gains Tax or Inheritance Tax. |