6 Caribbean Countries With High Corporate Income Taxes

By Felicia J. Persaud

News Americas, NEW YORK, NY, Fri. Jan. 20, 2017: The corporate tax rate in several countries in the Caribbean is almost on par with the U.S’ 35 percent. Here are 6 countries with a tax rate of 30 percent or higher according to Deloitte & Touche:

Jamaica

Jamaica leads with the highest national corporate tax rate in the region with 33.3 percent but for unregulated companies, the rate is 25 percent.

St. Kitts & Nevis

The corporate income tax rate in St. Kitts & Nevis is right behind Jamaica at 33 percent. Remittance of funds by a branch to headquarters is also subject to a 10 percent tax rate.

St. Vincent & the Grenadines

In the islands of St. Vincent & the Grenadines, corporations pay a national and local tax rate of 32.5 percent.

Grenada

Grenada levies a whopping 30 percent tax rate nationally on corporations and a branch remittance tax of 15 percent is also levied.

St. Lucia

St. Lucia also levies a 30 percent tax rate on corporations but the rate is 33.3 percent for certain non-compliant corporations.

St. Maarten

The Dutch Caribbean island of St. Maarten charges a national and local corporate tax rate of 30 percent