Retained
- Statutory Tax Rate 30
- 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 30
Statutory Tax Rate
Effective from 18 July 2022, the standard corporate tax for companies is 30%. Previously, corporate tax was levied at progressive rates as follows:
|
Category |
Tax Rate |
|
Small entities having turnover up to SSP 1 million |
10% |
|
Medium entities having turnover exceeding SSP 1 million and up to SSP 30 million |
20% |
|
Large entities having turnover exceeding SSP 30 million |
25% |
Effective 18 July 2022, insurance companies are subject to tax at the rate of 10% (previously exempt from tax).