Who must file a tax return?

All residents with taxable income must file a tax return.

What is the filing deadline?

Tax returns must be filed by March 31 of the following year.

How is foreign income taxed?

Residents are taxed on worldwide income, including foreign income.

Are capital gains taxable?

Grenada does not impose a capital gains tax.

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Rank #14

Grenada

Caribbean • UTC-4 • America/Grenada

Monthly Cost

$1,844

-16% vs USA

Internet

143 Mbps

Fixed Broadband Avg

Monthly Cost

$1,844

-16% vs USA

Internet

143 Mbps

Fixed Broadband Avg

Grenada's Tax System

Grenada employs a flat personal income tax rate and a moderate corporate tax rate. VAT is applied to goods and services.

Income Tax

10%

Flat rate on personal income

Corporate Tax

30%

Standard corporate tax rate

VAT / GST

15%

Standard VAT rate

Nomad Visa

Not Available

No dedicated program

Tax System Overview

Grenada's tax system features a flat personal income tax rate and a moderate corporate tax rate. VAT is applied to goods and services.

System Type

Flat personal income tax

Resident Taxation

Residents are taxed on worldwide income.

Non-Resident Taxation

Non-residents are taxed only on Grenadian-source income.

Tax Year

January 1 – December 31

Income Tax Bands

Grenada applies a flat personal income tax rate of 10% on all taxable income.

Tax Treaty

Double Taxation Agreements help prevent double taxation on income.

United Kingdom

Treaty Active

Income Covered:Employment, pensions, dividends, interest, royalties.

Withholding Tax Rates:Reduced rates: dividends 15%, interest 10%, royalties 0%.

Residency Rule:Residency determined by 183-day rule and permanent home location.

Tax Credit:Foreign tax credit allowed to avoid double taxation.

The treaty between Grenada and the UK aims to prevent double taxation and fiscal evasion with respect to taxes on income.

Key Benefits

Prevents double taxation on income earned in both countries.
Reduced withholding tax on dividends, interest, and royalties.

Totalization Agreement

These agreements coordinate social security systems, ensuring workers pay into only one system at a time.

Barbados

Agreement Active

The agreement between Grenada and Barbados prevents double social security contributions for workers moving between the two countries.

Coverage Areas

Old-age pensionsDisability benefitsSurvivor benefits

Facts

Prevents double taxation of social security contributions for Grenada–Barbados workers.
Allows workers to combine contribution periods for benefits eligibility.

Other Countries with Agreements

Trinidad and Tobago

Saint Lucia

Business & Freelancing

Corporate Tax Rate

30% standard corporate tax rate

VAT Registration

Mandatory for businesses with annual turnover exceeding $120,000.

Freelancer Rules

Freelancers are subject to the same tax rates as other individuals and must register for VAT if applicable.

Crypto Policy

Cryptocurrency is not specifically regulated; general tax rules apply.

Frequently Asked Questions

Digital Nomad & Benefits

Visa Details

Minimum Income:N/A

Duration:Tourist visa: 3 months

Renewal:Possible through residency application

Proof of Employment:Not required for tourist visa

Additional Requirements:Valid passport, return ticket

Tax Perks

Flat 10% personal income tax rate
No capital gains tax

Filing Roadmap

Gather Income Documents

Collect all necessary income statements and documentation.

Complete Tax Return

Fill out the tax return form with accurate income details.

Submit Tax Return

Submit the completed tax return to the Inland Revenue Department by March 31.

Pay Any Tax Due

Ensure any taxes owed are paid by the filing deadline.