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Grenada Proposes Income Tax Cuts In Budget

by Mike Godfrey, Tax-News.com, Washington

29 November 2017


Grenada's Premier, Keith Mitchell, has announced tax cuts in the island's recent budget.

The rate of corporate income tax will fall five percent to 25 percent, and the rates of personal income tax will also drop by five percent. Currently, personal income tax is levied at 10 percent on incomes between XCD36,000 (USD13,333) and XCD60,000 per annum, and 30 percent thereafter.

Mitchell said the tax cuts are dependent on the island's fiscal health. They would be implemented by June 2018.

TAGS: tax | business | budget | corporation tax | Grenada | individual income tax

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What is the special interest for this tax break?
New revenue growth with increased private sector credit will create spending but will that lead to fixed favorable interest rates?
If not, it will upset the balance of the economy hurting the small and local, expediting extreme urbanization.
New revenue growth is a start but more is needed if haste is made and the far future of Grenada's people isn't the reward.
Thank You

Marcus John on Thursday, November 30, 2017

 






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