The BVI is generally considered a Tax Haven for International Business Companies (IBC's).

Company Taxes

Corporations registered under the IBC Ordinance are exempt from BVI Income Tax. There is no inheritance tax, death duty, capital gains, capital transfer or estate tax.

Company tax rate is 15% on chargeable income. Partnership interest is declared as such, but each partner is individually liable on his share of income.

All persons employed in the Territory are liable to pay Income Tax on their gross earnings.Income Tax is payable under a system aclled PAYE (Pay As You Earn).Under the PAYE system, tax is paid on weekly wages or monthly salaries, annual salaries, bonuses, commissions, director's fees and any other income from employment. It is the employers duty to deduct Income Tax from the pay of his employees whether or not he has been directed to do so, by the Tax Office. If he fails to do so, he may be required to pay to Inland Revenue the tax which he shoul have deducted, and in addition, be liable to penalties.           

Tax tables for computation are available at the Inland Revenue Department. Please go to LINKS PAGE for further information