Annual report & statement of accounts
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- Capital Gains Tax Rate Capital Gains Tax 20%
- Years of Assessment 2000 to 2013
- ANNUAL REPORT STATEMENT OF ACCOUNTS 87 APPENDIX 2 COMPANY TAX RATES
| SELF-EMPLOYED INDIVIUALS Effective 1 st September, 2003. In respect of self-employed individuals whose turnover from the performance of services Exceeds $10 Million Minimum Tax – 2% Less than $10 million Presumptive Tax Method using factors such assize of business, number of employees, assets used in the business, training and years in practice, salaries of comparable employed individuals etc. Capital Gains Tax Rate Capital Gains Tax 20% ANNUAL REPORT & STATEMENT OF ACCOUNTS 86 PERSONAL PROPERTY TAX RATES Years of Assessment 1993 - 1999 On the first $5,000,000 of Net Property 0% For every Dollar of the next $5,000,000.00 of Net Property ½% For every Dollar of the remainder of Net Property ¾% Years of Assessment 2000 to 2013 On the First $7,500,000 of Net Property 0% For every dollar of the next $5,000,000.00 of Net Property ½% For every dollar of the remainder of Net Property ¾% Year of Assessment 2014 - On the First $40,000,000 of Net Property 0% For every dollar of the remainder of Net Property ¾% ANNUAL REPORT & STATEMENT OF ACCOUNTS 87 APPENDIX 2 COMPANY TAX RATES 1 Minimum Taxon Turnover Commercial Companies Non-Commercial Companies Effective for YA 95-96 2% Commercial Companies From YA 97 applied to Commercial Companies only 2% 2 Corporation Taxon Chargeable Income Commercial Companies Non-Commercial Companies Telephone Companies Commercial Companies Other Companies YA 1995 - 2011 From YA 2012 45% 35% 45% 40% 30% 3 4 Capital Gains Tax Property Tax Years of Assessment 1986 – 1992 On the first $500,000 of Net Property 20% ½% On every Dollar of Net Property in excess of $ 500,000 ¾% Years of Assessment 1993 – 1999 On the first $500,000 of Net Property Nil For every Dollar of the next $5,000,000 of Net Property For every Dollar of the remainder of Net Property ½% ¾% Years of Assessment 2000 – 2013 Year of Assessment 2014 - On the first $1,500,000 of Net Property For every dollar of the next $5,000,000 of Net Property For every dollar of the remainder of Net Property On the first $10,000,000 of Net Property For every Dollar of the next $15,000,000 of Net Property For every dollar of the remainder of Net Property Nil ½% 3/4% Nil ½% ¾% |