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Grenada Announces Annual Stamp Tax Rates

by Mike Godfrey, Tax-News.com, Washington

01 April 2016

Grenada has announced the rates at which Annual Stamp Tax will be levied on companies, on a progressive basis, according to their gross annual receipts.

The Annual Stamp Tax for the 2016 fiscal year will be levied at 0.75 percent for businesses with gross annual receipts in the fiscal year 2015 of XCD300,000 (USD111,000) or more, and 0.5 percent for businesses with gross annual receipts below that threshold.

Taxpayers whose financial year spans the 2014/15 period may pay the Annual Stamp Tax at a rate of 0.50 percent for those months falling in the 2014 year, and 0.75 percent for any months in the 2015 year, where they have:

  • A fiscal year-end prior to December 31, 2015, and gross receipts exceeding XCD300,000 (USD111,111);
  • Already filed and paid or started making installment payments as of March 31, 2016; and,
  • Made an application for the relevant adjustments on or before April 15, 2016.

Taxpayers whose Annual Stamp Tax liability has been apportioned in this way must pay any tax due by August 31, 2016.

TAGS: tax | business | Grenada | stamp duty | Tax

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