Retained
- Statutory Tax Rate 25
- Surtax Based on Taxable Income 0
- Surtax Based on Statutory Tax 0
- Surtax Deductible from Taxable Income 0
- Statutory Tax Deductable 0
- Effective Tax Rate 25
Statutory Tax Rate
The standard corporate tax is levied on companies at the following progressive rates:
- Taxable income up to SCR 1 million - 15% (reduced from 25%, effective 1 January 2022); and
- Taxable income above SCR 1 million - 25% (reduced from 30%, effective 1 January 2022).
Telecommunication services providers, banks, insurance companies, and alcohol and tobacco manufacturers are subject to tax at the rate of 25% on income up to SCR 1 million and 33% on balance income above SCR 1 million.