British Virgin Islands, ZERO TAXES — June 11, 2013 at 6:03 am

British Virgin Islands Tax Rates 0%

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British virgin islands Income Tax

Tax Basis – The British Virgin Islands (BVI) does not levy personal income tax.
Residence – An individual that is domiciled in the BVI is deemed to be resident.
Tax Filing status – No
Taxable income – No
Capital gains – No
Deductions and allowances – No
Tax Rates – No

Other taxes on individuals:British-Virgin-Islands-TaxRate

Capital duty – No
Stamp duty – A 12% stamp duty is levied on property transactions; minimal duty is levied on other conveyances.
Capital acquisitions tax – No
Real property tax – Land Tax is levied at $50 per acre. Building Tax is levied at 1.5% of the annual rental value.
Inheritance/estate tax – No
Net wealth/net worth tax – No
Social security – Employers must pay 4.5% of the employee’s salary and the employee contributes 4% (up to a cap).

Administration and compliance:

Tax year – Calendar year
Tax Filing and payment – No
Tax Penalties – Yes, but not significant.

British virgin islands Corporate Tax

Residence – A company is resident if it is managed and controlled in the British Virgin Islands.

Basis – The British Virgin Islands (BVI) does not levy corporate income tax.

Taxable income – No
Taxation of dividends – No
Capital gains – No
Losses – No
Tax Rate – No
Surtax – No
Alternative minimum tax – No
Foreign tax credit – No
Participation exemption – No
Holding company regime – No
Incentives – No

Withholding tax:

Dividends – No
Interest – No, but the BVI has implemented the EU savings directive, i.e. agents making interest payments to residents of an EU member state will automatically exchange information with the relevant member state’s tax authorities with respect to the identity of the beneficial owner and the payment.
Royalties – No
Branch remittance tax – No

Other taxes on corporations:

Capital duty – No
Payroll tax – Yes
Real property tax – Yes
Social security – Yes
Stamp duty – A 12% stamp duty is levied on property transactions; minimal duty is levied on other conveyances.
Transfer tax – No
Anti-avoidance rules:
Transfer pricing – No
Thin capitalisation – No
Controlled foreign companies – No
Disclosure requirements – No
Tax year – No
Consolidated returns – No
Filing requirements – No
Penalties – No
Rulings – No

British virgin islands Sales Tax / Value Added Tax (VAT)

Taxable transactions – The British Virgin Islands (BVI) does not levy any VAT or sales tax.
Tax Rates – No
Registration – No
Filing and payment – No
Source of tax law: Land and House Tax Ordinance, Stamp Act, Payroll Taxes Act, Social Security Ordinance, Mutual Legal Assistance (Tax Matters), (Amendment) Act
Tax treaties: The BVI has not concluded any tax treaties.
Tax authorities: Inland Revenue
International organisations: None

ZUP-744671-BSP British-Virgin-Islands-112 British-Virgin-Islands-111 BVH-00708349 SIM-771662 British-Virgin-Islands-108 British-Virgin-Islands-107 British-Virgin-Islands-106 British-Virgin-Islands-105 British-Virgin-Islands-104 British-Virgin-Islands-103 British-Virgin-Islands-102 British-Virgin-Islands-101 British-Virgin-Islands-100

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