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Paying Taxes

By: Stephen Leslie France, Editor - aLookingGlass | Last Updated: December 21, 2016


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Living and working in the BVI has its benefits—especially when it comes to tax breaks. But as long as you are employed on this soil, you are responsible for your contribution to society.

If you are an employee working in the private sector, you will not get taxed on the first $10,000 you earn per year. After that, you will pay 8% toward payroll tax—that’s a gross on salary payment to government—and employers are responsible for a 6% payroll tax (bosses get a break because they’re deemed to contribute more toward economic growth). As an employee, you’ll also contribute 4% to the Social Security Board, while employers chip in 4.5% of their income. That’s not so bad when you look at the 15-35% tax rates in the US. And then there’s Europe…

Check with your home countries to see the requirements for filing for taxes with them.

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