Rates & Fees
Capital Allowances
Electrical
Hotel
Income Tax Rates, Thresholds and Exemptions (2003 – 2018)
Income Tax – Withholding Tax on local payments
Income Tax – Withholding Tax on payments to non-residents
Island Traffic Authority Fees
Motor Vehicle & Driver’s Licence
Police Fees
Spirit
Stamp Duty Rates
Traders and Hawkers
Traders or Business Licences (Effective April 1, 2015)
GCT - history of standard rates
|
ELECTRICAL RELATED SERVICE |
FEES |
|
Electrical lighting law (oral exams) |
$500 |
|
Electrical Lighting Law (issue and renewal of licence) |
$500 |
|
Electrical Lighting Law -penalty for non-renewal five (5) years and over |
$3,000 |
|
Electrical law |
Varies |
|
Electrical inspection fees (light etc.) |
Varies |
|
Special Electrical Inspection Fee |
Varies |
|
Approval of Drawings/Designs |
Varies |
|
Electrical lighting law (exam fees) |
Varies |
|
HOTEL FEES |
|
|
Hotel Licence Duty |
varies with # of rooms & category |
|
Hotel Spirit Licence |
$6,000.00 |
|
Special Hotel Spirit Licence |
$10,000.00 |
|
|
|
Income Tax – Withholding Tax on local payments
|
TYPE OF WITHHOLDING TAX |
RATE |
|
Withholding Taxes - Interest paid locally |
25% of gross |
|
Withholding Taxes - Dividends (Residents) |
15% of gross |
|
Withholding Taxes - Dividends (Non-Residents; Treaty rates is applied where necessary) |
*33.33% & 25% of gross |
|
Withholding Taxes - Directors Fee |
25% of gross |
|
Withholding Taxes - Pensions |
25% of gross |
|
Withholding Taxes on interest -quarterly |
25% of gross |
Income Tax – Withholding Tax on payments to non-residents
|
Double Taxation Treaty Country |
Types of Income |
||||
|
Dividends |
Interest % |
Royalties % |
Management Fees% |
||
|
|
Portfolio Investment |
Substantial Holdings |
|||
|
Canada |
15.0 |
22.5 |
15.0 |
10.0 |
12.5 |
|
Denmark |
15.0 |
10.0 |
12.5 |
10.0 |
10.0 |
|
Germany |
15.0 |
10/22.5 |
10/12.5* |
10.0 |
10.0** |
|
Israel |
22.5 |
15.0 |
15.0 |
10.0 |
33 1/3 / 25 |
|
Norway |
15.0 |
15.0 |
12.5 |
10 |
10.0 |
|
Sweden |
22.5 |
10.0 |
12.5 |
10.0 |
10.0 |
|
United Kingdom |
15.0 |
22.5 |
12.5 |
10.0 |
12.5 |
|
United States |
15.0 |
10.0 |
12.5 |
10.0 |
taxed as business profit |
|
Caribbean Community |
- |
- |
15.0 |
15.0 |
15.0 |
|
Switzerland |
15.0 |
10.0 |
10.0 |
10.0 |
10.0 |
|
Peoples' Republic of China1 |
5.0 |
5.0 |
7.5 |
10.0 |
- |
|
France |
15.0 |
10.0 |
10.0 |
10.0 |
10.0 |
|
Spain2 |
10.0 |
5.0 |
10.0 |
10.0 |
10.0 |
Notes
(a) Portfolio Investment – investments by an individual or small investment by a company.
(b) Substantial Holdings – direct substantial investment (10% or more) by a non-resident company in the company paying the dividends.
* Recognized banking institution 10% others 12.5%
** See Royalties article
---------------------------------------
1Effective January 1, 1998
2Effective May 16, 2009
| DESCRIPTION | FEES |
| GARAG/EST VISIT (UP 10 VEH) | $15,000.00 |
| GARAG/EST VISIT (EACH ADD VEH) | $500.00 |
| SPECIAL PERMITS PROCESSING FEE | $2,500.00 |
| DRIVING HISTORY & SUB LIC | $3000.00 |
| ENGRAVEMENT | $10,000.00 |
| VER YEAR OF MANUFACTURE | $12,000.00 |
| CUSTOMS VERIFICATION | $7,000.00 |
| CHASSIS VERIFICATION | $7,000.00 |
| STRUCTURAL VER (INTEGRITY) | $20,000.00 |
| STRUCTURAL VER (SAFETY) | $7,000.00 |
| VALUATION REPORT | $3,000.00 |
| INSURANCE REQUESTS | $7,000.00 |
Motor Vehicle & Driver’s Licence Related Fees
|
DESCRIPTION |
FEES |
|
|
MOTOR VEHICLE LICENCE FEES |
||
|
Taxis |
||
|
Motor Cars (taxis) |
$9,240.00 |
|
|
Motor Cars |
||
|
Motor Cars (not exceeding 1199cc) |
$9,240.00 |
|
|
Motor Cars (exceeding 1199cc but not exceeding 2999cc) |
$12,600.00 |
|
|
Motor Cars (exceeding 2999cc but not exceeding 3999cc) |
$28,800.00 |
|
|
Motor Cars (exceeding 3999cc) |
$43,650.00 |
|
|
Motor Cycles |
||
|
Motor Cycles (not exceeding 125cc) |
$3,690.00 |
|
|
Motor Cycles (exceeding 125cc but not exceeding 500cc) |
$5,580.00 |
|
|
Motor Cycles (exceeding 500cc) |
$8,550.00 |
|
|
Truck and Tractors (petrol/diesel) |
||
|
Trucks and Tractors (not exceeding 60 cwt./3048.138 kg) |
$12,600.00 |
|
|
Trucks and Tractors (exceeding 60 cwt./3048.138 kg) but not exceeding 120 cwt./6109.09 kg) |
$21,600.00 |
|
|
Trucks and Tractors (exceeding 120 cwt./6109.09 kg) |
$21,600.00 plus $120 per 50.91 kg(1cwt) |
|
|
Trailers |
||
|
Trailers (per cwt./50.91 kgs) |
|
|
|
|
|
|
|
0 – 20 cwt. |
20 |
$4,050.00 |
|
20 cwt. – 30 cwt. |
30 |
$6,075.60 |
|
30 cwt. – 40 cwt. |
40 |
$8,100.00 |
|
40 cwt. – 50 cwt. |
50 |
$10,125.60 |
|
50 cwt. – 60 cwt. |
60 |
$12,150.00 |
|
60 cwt. – 75 cwt. |
75 |
$15,187.20 |
|
75 cwt. – 120 cwt. |
120 |
$24,300.00 |
|
120 cwt. and over |
121 |
$24,502.80 |
|
LICENCE PLATES FEES |
||
|
PP and CC Plates |
$2,700.00 |
|
|
Motor Cycle Plates |
$2,250.00 |
|
|
Private Plates |
$2,700.00 |
|
|
Trailers (private) |
$2,700.00 |
|
|
Substitute Motor Car Plates (private) |
$4,500.00 |
|
|
Substitute Motor Cycle Plates & Trailers |
$4,500.00 |
|
|
Substitute PP/CC Plates |
$4,500.00 |
|
|
Demonstration Plates |
$9,000.00 |
|
|
Personalised Plates |
$36,000.00 |
|
|
Application for Renewal of Demonstration Plate |
Cars $1,200.00 Trucks 2,400.00 |
|
|
Demonstration Plate Replaced |
$9,000.00 |
|
|
DRIVER’S LICENCE FEES |
||
|
Private Driver’s Licence |
$5,400.00 |
|
|
General Driver’s Licence |
$7,200.00 |
|
|
Motor Cycle Driver’s Licence |
$4,140.00 |
|
|
Provisional Driver’s Licence (Learner’s) for one year |
$1,800.00 |
|
|
Substitute Driver’s Licence |
$4,140.00 |
|
|
CERTIFICATE OF FITNESS FEES |
||
|
Motor Vehicle Certificate of Fitness Fee (Private/Car) |
$4,500.00 |
|
|
Motor Cycle Fitness Fee |
$4,500.00 |
|
|
Trailer and Tractor Fitness Fee |
$5,400.00 |
|
|
Motor Vehicle Certificate of Fitness Fee PPV (L-Form) |
$3,240.00 |
|
|
Motor Vehicle Certificate of Fitness Fee – M/V defects were remedied |
$6,300.00 |
|
|
Motor Vehicle Certificate of Fitness Fee – PP & CC |
$5,400.00 |
|
|
MOTOR VEHICLE TITLE FEES |
||
|
Application for Motor Vehicle Title |
$1,620.00 |
|
|
Application for Motor Vehicle Title (Substitute) |
$1,800.00 |
|
|
OTHER MOTOR VEHICLE RELATED FEES |
||
|
Driver’s Licence Examination Fee |
$3,240.00 |
|
|
Motor Vehicle Transfer Fee |
$900.00 |
|
|
Substitute Registration Certificate/Replacement Disc Fee |
$900.00 |
|
|
Motor Vehicle Licence Duty (Fee) |
varies according to c.c rates & cwt. |
|
|
Motor Vehicle Second Sales /GCT Cars: 0 – 1999 cc 2000 cc – 2999 cc 3000 cc – up Trucks & Buses: 0 – 30 31 – 60 61 - Up |
$12,000 $18,000 $24,000
$12,000 $12,000 $18,000 |
|
|
Motor Vehicle arrears |
Varies with period of arrears |
|
|
Lien Information Form |
$6.00 |
|
|
Traffic Ticket Collections |
varies according to breaches |
|
|
|
FEES |
|
Police Record – Regular (21 days) |
$3,000.00 |
|
Police Record – Express (5 days) |
$6,000.00 |
|
Police Record – Next Day Service (Duke Street Only) (1 day) |
$8,000.00 |
|
Expungement of Crminal Records |
$3,000.00 |
|
Taking of Fingerprints for Overseas Use |
$1,500.00 |
|
Motor Vehicle Accident Reports |
$3,000.00 |
|
Driving Record Reports |
$3,000.00 |
|
Abstract Reports - Insurance assessments re fire, theft, damage to property, death/injury claims, crime related property losses |
$2,500.00 |
|
Reports for lost/stolen documents – Passports, Driver’s Licence, Motor Vehicle Documents, etc. |
$2,500.00 |
|
Abstract M/V Receipts etc. (Copies) |
$500 |
|
M/Vehicle Reconstruction Reports |
$10,000.00 |
|
Forensic Document Examination - Legal documents (3 weeks) |
$20,000.00 |
|
SPIRITS/LIQUEUR LICENCES |
FEES Plus additional $40 for Court Cost |
|
Beer Garden |
$1,000.00 |
|
Town Off Spirit Licence(Supermarket) |
$5,000.00 |
|
Town Tavern Licence |
$5,000.00 |
|
Wholesale Spirit Licence |
$15,000.00 |
|
Hotel Spirit Licence |
$6,000.00 |
|
Special Hotel Spirit Licence |
$10,000.00 |
|
Occasional Spirit Licence |
$1,200.00 |
|
Village Tavern Licence |
$1,500.00 |
|
Spirituous Compound Manufacture Excise Licence |
$2,000.00 |
|
Spirituous Compound Manufacture (Consumption) |
$5,000.00 |
Stamp Duty Related Rates and Fees
|
DESCRIPTION |
STAMP DUTY RATES |
SUBMISSION TIME * |
PENALTY FOR LATE PAYMENT |
|
Articles of Incorporation |
$500.00 |
14 days |
$10.00 & 5% p.a. |
|
Airway Bill |
$10.00 |
14 days |
$10.00 & 5% p.a. |
|
Application to Register Land |
1/3 ($40. 00 per $1,000.00 or part thereof on market value) if Transfer Tax is applicable |
14 days |
$10.00 & 5% p.a. *rate based on date document |
|
Bill of Exchange |
$10.00 per $200.00 or part thereof (up to a maximum of $100,000.00), thereafter a flat rate of $5,000.00 |
7 days |
Not valid after 7 days |
|
Bill of Sale (Consumer) |
$500.00 |
14 days |
$10.00 & 5% p.a. |
|
Bill of Sale (mortgage other than real property) |
$3.00 per $200.00 or part thereof and 25% surcharge |
30 days |
100% of Stamp Duty + $10.00 |
|
Bond (performance, warehouse etc.) |
$30.00 per $2,000.00 or part thereof |
30 days |
100% of Stamp Duty + $10.00 |
|
Change of Tenancy |
$500.00 |
14 days |
$10.00 & 5% p.a. |
|
Co-Partnerships |
$1,000.00 |
14 days |
$10.00 & 5% p.a. |
|
Copy Documents |
$10.00 |
14 days |
$10.00 |
|
Debenture |
$1.60 per $200.00 or part thereof and 25% surcharge |
30 days |
100% Stamp Duty + $10.00 |
|
Discharge of Mortgage |
$0.10 per $200 or part thereof & 25% surcharge |
30 days |
100% of Stamp Duty + $10.00 |
|
Loan Agreement |
$10.00 (without Seal) $20.00 (with Seal) |
14 days 14 days |
$10.00 $10.00 & 5% p.a. |
|
Mortgage (land) |
$1.00 per $200.00 or part thereof and 25% surcharge |
30 days |
100% of Stamp Duty + $10.00 |
|
Partial Discharge |
$10.00 |
14 days |
$10.00 penalty |
|
Policies (life-individual) *Risk Policies not otherwise charge $200.00 *Group Life $1 per $1,000.00 (of sum assured or part thereof |
$200.00 |
14 days |
$10.00 & 5% p.a.
100% + $10.00 |
|
Promissory Note
|
$10.00 per $200.00 or part thereof (up to a maximum consideration of $100,000.00) Thereafter a flat rate of $5,000 |
7 days |
Not valid after 7 days |
|
Promissory Note (Demand Note) |
$1.00 |
7 days |
Not valid after 7 days |
|
Receipts |
Less than $100.00 - $1.00; $100.00 and upwards $2.00 |
14 days |
|
|
Refinancing of a Mortgage |
Flat rate of $100 for loans not higher than the original amounts secured (An Valorem duty payable on excess amount original secured) |
30 days |
$10 + 5% p.a. $10 + 100% |
|
Release and Discharge (in full and final settlement) |
Varied; each is assessed on its own merit |
14/30 days |
$10.00 & 5% p.a. or 100% Stamp Duty & $10.00 |
|
Rent/Lease Agreements |
Monthly (less than one (1) year) - $1,000.00; More than 1 year - approx. 1% of annual rent & 4% on any gross payment |
14 days 30 days |
$10.00 & 5% p.a. 100% of Stamp Duty + $10.00 |
|
Rent/Lease (equipment) |
$250.00 |
14 days |
$10.00 & 5% p.a. |
|
Sale Agreement / Transfer |
5% |
30 days |
100% + $10.00 |
|
Share Certificate |
Less than $100.00 - $1.00 $100.00 and upwards - $5.00 |
14 days |
|
|
Statement of increase in share capital |
$500.00 (fixed) plus $2.00 per $200.00 or part thereof on increased value |
30 days |
10% per month |
|
* SUBMISSION TIME is from the date of document |
|||
Traders and Hawkers Related Fees
|
TRADERS & HAWKERS |
FEES |
|
Town Retail Licence |
$3,500.00 |
|
Village Retail Licence |
$1,000.00 |
|
Warehouse Licence(SCT/GCT) |
$3,500.00 |
|
Tobacco Manufacturers Licence |
Outdated |
|
Retail Trade Licence * |
Varies |
|
Wholesale Trade Licence |
$1,000 |
|
Hawkers &PedlersLicence A |
$2.00 |
|
Hawkers &PedlersLicence B |
$10.00 |
|
* Retail Trade Licence (currently being changed) |
|
|
Grade 1 |
≤ 5,000 = $20.00 |
|
Grade 2 |
> 5,000 ≥ 15,000 = $50.00 |
|
Grade 3 |
>15,000 ≥ 30,000 = $100 |
|
Grade 4 |
>30,000 ≥ 50,000 = $300 |
|
Grade 5 |
>50,000 ≥ 100,000 = $1,000 |
|
Grade 6 |
>100,000 ≥ 500,000 = $2,500 |
|
Grade 7 |
> 500,000 = $5,000 |
Trade or Business Licences (Effective April 1, 2015)
|
BUSINESS/TRADER |
CLASSIFICATION |
FEES |
|
Merchant, General Factor, Wholesale Dealer |
For each designated place of business with liberty to store in and deliver out of public and other warehouses |
$5,000 |
|
Auctioneer or Commission Agent |
For each person carrying on business and shall include one designated place of business |
$5,000 |
|
Wharfinger |
For each wharf |
$5,000 |
|
Super-cargo |
For each person carrying on a business |
$5,000 |
|
Proprietor of Newspaper |
For each designated newspaper – (i) Daily (ii) Other than daily
|
$5,000 $1,000 |
|
Retailer |
For each designated place of business |
|
|
Grade I |
Retailers whose annual turnover does not exceed $500,000.00. |
$2,500 |
|
Grade II |
Retailers whose annual turnover exceeds $500,000.00 but does not exceed $1,000,000.00. |
$5,000 |
|
Grade III
|
Retailers whose annual turnover exceeds $1,000,000.00 but does not exceed $2,500,000.00. |
$10,000 |
|
Grade IV |
Retailers whose annual turnover exceeds $2,500,000.00 but does not exceed $5,000,000.00. |
$15,000 |
|
Grade V |
Retailers whose annual turnover exceeds $5,000,000.00 but does not exceed $10,000,000.00. |
$25,000 |
|
Grade VI |
Retailers whose annual turnover exceeds $10,000,000.00 but does not exceed $15,000,000.00. |
$35,000 |
|
Grade VII |
Retailers whose annual turnover exceeds $15,000,000.00 but does not exceed $25,000,000.00. |
$45,000 |
|
Grade VIII |
Retailers whose annual turnover exceeds $25,000,000.00 but does not exceed $50,000,000.00. |
$55,000 |
|
Grade IX |
Retailers whose annual turnover exceeds $50,000,000.00 but does not exceed $100,000,000.00. |
$65,000 |
|
Grade X |
Retailers whose annual turnover exceeds $100,000,000.00. |
$75,000 |