Further to the Department’s notice issued on the 23rd December 2022, kindly be informed that effective 1st January, 2023, the maximum tax rate for Corporate Income Tax (CIT) and Personal Income Tax (PIT) will be reduced from 30% to 28%. Further, the Standard Deduction rate will be increased from $20,000 to $22,000.
Director General Finance & Planning
Mr. Edmond Jackson
(784) 456-1111 Ext: 3507
Fax: (784) 457-2943