Personal Income Tax
There is no personal income tax in Nevis.
Corporate Income Tax
(Income Tax Act – No. 17 of 1966 as amended)
Corporate tax is 33% of net profits. Qualified companies enjoy full exemption from taxes on corporate profits for a period not exceeding 15 years. Corporate tax does not apply to exempt companies or to enterprises that have been granted tax concession.
Value Added Tax
(Value Added Tax Act No 3 of 2010)
VAT or Value Added Tax is a tax on consumption. It is charged on the value of imports and on the value added (mark-up) on goods and services supplied by one business to another or to the final consumer.
The tax is levied on imports, transactions between businesses, and the final consumer and transactions with the Government. The standard rate is 17%. A special rate of 10% is extended to hotels, restaurants, commercial rent and tour operators.
List of Concessions
The VAT Act replaces the following pieces of legislation:
- Consumption Tax Act, Cap.20.02
- Hotel Accommodation and Restaurant Tax Act,Cap.20.20
- Traders Tax Act,Cap.20.46
- Cable TV Tax Act
- Self Drive Motor Vehicle(Rentals) (Tax)Act, Cap.20.37
- Export Duty Act,Cap.20.12
- Telecommunications Tax Act
- Parcels Tax Act,Cap.20.30
- Gaming Machine Tax Act
- Public Entertainment and Lotteries Tax Act,Cap.20.34
Alien Landholding License
(Alien Landholding Regulation Act – CAP 102 as amended)
An Alien Landholding License (ALHL) is required for:
- A foreign person to acquire and own property in Nevis
- A foreign person desirous of acquiring 1/3 or more of the shares in an ordinary company
- A foreign person desirous of becoming a director of an ordinary company
The following supporting documentation will be needed for the processing of Alien Land Holding applications.
- Completed Questionnaire.
- Statutory declaration / Affidavit of Identity and Character.
- Certified copies of the identification pages of applicant passport.
- A copy of the Certificate of Incorporation where applicable.
- A copy of Certificate of Good Standing where applicable.
- A copy of the recent annual return of applicant if applicable.
- Maps, Plans of the land.
The Nevis Island Administration (NIA) reserves the right to request an original police record or certificate of each applicant from his or her own local Police Station/Department before the approval of the application.
NB. Where the application is for holding shares clearly state the number of shares to be allotted to the applicant.
The processing fee payable on all ALHL applications for the purchase of land or buildings will be EC$1,000.00, this includes permission for sale of land and or property.
The processing fee on all ALHL applications to hold shares in, and or act as a director of a local company will be EC$500.00.
Additionally, permission to sell shares in a local company will be EC$500.00. Permission to sell property will attract a fee of $1,000.00.
Processing fees will be per application and must be paid at the time that the application for ALHL is submitted. Cheques should be made payable to the Nevis Island Administration.