The Comptroller of Inland Revenue is responsible for administering and applying the provisions of the International Tax Cooperation (Economic Substance) Act (“the Act”).

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.

St. Vincent and the Grenadines is recovering from the pandemic and 2021 volcanic eruptions. The authorities’ decisive policy responses—supported by two IMF Rapid Credit Facility (RCF) disbursements and financing from other International Financial Institutions—helped protect lives and livelihoods and contain economic scars. Output decline in 2020 was the lowest in the ECCU and the economy is estimated to have grown by 0.8 percent in 2021 supported by strong post-volcanic eruption reconstruction activity. 

Contact Information

Director General Finance & Planning
Mr. Edmond Jackson
Telephone:(784) 457-1343
(784) 456-1111 Ext: 3507
Fax: (784) 457-2943