Property Vendors faq…
What is Vendors Tax in St Lucia? Should I pay?
Yes! Individuals and companies who owns property in St Lucia and wish to sell that property are required to pay Vendors Tax upon execution of the sale. Vendors tax is payable to the Inland Revenue Department (IRD) and is calculated as follows.
St Lucia Vendor’s Tax Calculation:
- First $50,000.00 exempted
- 2.5% of next $25,000.00 $625.00
- 3.5% of next $75,000.00 $2,625.00
- 5.00% of the Balance
There is a 10% Vendor’s Tax payable to the Government upon a resale of the property owned by companies such as IBCs. This calculation is based upon the price at which the property is being re-sold.
On closing, a Company / IBC should expect the following documents
- Deed of Sale
- Income Tax, Land and House Tax compliance letters.
- NIC compliance letter
- Company Certificate of Good Standing
Click Here For [St Lucia Homes For Sale…}
International business company” means a company incorporated under this Act; International Business Companies Act – Cap 12.14.
International Financial and World Investment Centre Limited” or “IFWIC” means the company incorporated
under the Companies Act as company number 195 of 1999;
International financial services representation” means international financial services representation as defined
in the Registered Agent and Trustee Licensing Act;