Rates & Fees

Capital Allowances
Electrical
Hotel
Income Tax Rates, Thresholds and Exemptions (2003 – 2017)
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 Fees

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 Related Fees

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 Rates, Threshold and Exemptions(2003-2017)

 


Income Tax – Withholding Tax on local payments

TYPE OF WITHHOLDING TAX

RATE

Withholding Taxes - Interest paid locally

25% of gross

Withholding Taxes - Dividends (Residents)

5% 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

 

Island Traffic Authority Fees

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 $100 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

 

Police Fees

 

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

 

Spirit Related Fees

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