Personal Income Tax

Personal Income Tax is levied on the income of individuals who are either in paid employment or engaged in personal business activities. It covers both Pay As You Earn (PAYE) and Direct Assessment.

Withholding Tax (WHT)

Withholding Tax is deducted at source from payments for specified transactions and remitted to the government as advance tax.

• Rent – 10%
• Interest & Deposit – 10%
• Dividend – 10%
• Consultancy – 5%
• Agency / Contract – 5%
• Construction – 5%
• Management Services – 5%
• Director’s Fees – 10%

Stamp Duties Tax

Stamp Duties Tax is charged on instruments and documents under the Stamp Duties Act. The applicable rate is 3% of the consideration stated in the document. Re-assessment may apply based on current market value (Best of Judgement – BOJ).

Capital Gains Tax

Capital Gains Tax is imposed on profits arising from the disposal of assets and is charged at 10% of the gain.

Consumption Tax

This tax applies to hotels, restaurants, and event centres and is charged at 5% of the total bill for goods or services consumed.

Land Use Charge

A consolidated land-based charge incorporating Ground Rent, Tenement Rate, and Property Tax, as determined by the Ministry of Housing and Lands.

Other Taxes & Levies

• Development Levy – 3% of contract sum
• Pools Betting, Lotteries & Casinos
• Motor Licensing & Vehicle Registration