Grenada's tax regime includes corporate income tax, VAT, payroll tax, withholding tax, property tax, stamp duty, and an environmental levy. It is important for businesses operating in Grenada to understand and fulfill their tax obligations. Consulting with a tax professional or referring to the official website of the Grenada Inland Revenue Division is advised to stay updated on the latest tax regulations and requirements. By adhering to the tax laws of Grenada, businesses can navigate the tax landscape and contribute to the sustainable growth of the country's economy.
Grenada imposes a corporate income tax on the profits earned by companies operating within its jurisdiction. The corporate income tax rate in Grenada is progressive, based on the level of taxable income. As of the knowledge cutoff date in September 2021, the tax rates are as follows:
It's important to note that Grenada operates on a territorial tax system, meaning that only income derived from activities within the country is subject to taxation.
For up-to-date and detailed information on business taxes in Grenada, it is recommended to visit the official website of the Grenada Inland Revenue Division, which is the tax authority responsible for tax administration in the country.
Grenada Inland Revenue Division Website: Official Grenada Inland Revenue Division Website