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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.