Henry, Henry & Bristol - Grenada attorneys at law

INCOME TAX

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.