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Personal Taxation in Montserrat
 
 
 

General

Resident individuals are subject to tax in Montserrat on income from employment. Basically, residents have their permanent place of abode in Montserrat or are present in Montserrat for 183 days in a year. If expatriates arrive late in a tax year but are resident in the following year, they qualify as resident in the year in which they arrive. The same rule applies when they leave.

"Resident in Montserrat" in relation to a year of assessment in the case of an individual means the following:

        • the permanent place of abode is in Montserrat, and the individual is physically present therein for some period of time in the year unless the Commissioner is satisfied that the individual's absence throughout the whole of the year was for the purposes of education, medical treatment or the performance of duties on behalf of the government;

        • the individual is physically present in Montserrat for not less than 183 days in the year;

        • the individual is physically present in Montserrat for some period of time in the year immediately preceding or succeeding a year when qualified as resident.

Residents of Montserrat are subject to tax on their employment income. Further, resident individuals, including trusts, pay tax on such items as net dividends, interest or rents. As noted resident individuals engaged in a business pay business tax on business profits.

Taxation of Non-Residents

Gross Income

In the case of persons who do not qualify as residents, inasmuch as they do not meet the requirements of the definition above, but who are temporarily present in Montserrat during the basis period of a year of assessment, tax is payable on income from employment in Montserrat. There is no tax on income arising outside Montserrat

Employee Services

Included in taxable income are gains from employment and the estimated annual value of residence or other allowance granted in respect of employment.

Business & Partnership Income

A foreign national who is a partner in an Montserrat partnership and is resident in Montserrat is subject to personal income tax. If such a partner is non-resident, that partner would pay withholding tax on salary and on the business profits after deduction of salary.

Dividends

Tax paid on company profits, out of which dividends are paid to individuals, cannot be recovered.

Taxation

Capital Gains

Capital gains are not taxable.

Other Income

Foreign-source income is taxable.

Closely Held Companies

Rules exist for the taxation at personal rates of undistributed profits of a company controlled by not more than five persons. This would only affect non-residents.

Deductions Personal Allowances

No personal allowances are available for non-residents.

Double Tax Relief

Double tax relief is not applicable to residents and generally would not be applicable to non-residents unless the income is received in Montserrat.

Tax Computation for Non-Residents

Taxable Income

Taxable income is gross income from employee services.

Tax Rates

Tax rates are on a sliding scale up to a maximum of 30% on annual taxable income over EC$15,000,.

Other Taxes

There are no wealth, gift or inheritance taxes.

 

 
 

 



 


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