Saint Lucia

Individual - Income determination

Last reviewed - 01 December 2023

Individuals are assessed on income from unincorporated businesses, partnerships, employment, rentals and royalties, investment income, premiums, commissions, fees, annuities, and any other gains or profits of an income nature other than those specifically exempted in the Act.

Employment income

Employees resident in Saint Lucia are taxed on their income from employment, including the value of any allowances or benefits, whether in cash or otherwise, received from an employer. Taxable benefits include employer-provided automobile and housing (except where representative occupation can be established) but do not include travel and entertainment allowances where the employee substantiates expenditure in the performance of duties to the extent of the allowances.

Stock options

Stock options form part of an individual's taxable income and are subjected to the tax rates outlined in the tax table.

Capital gains

Capital gains are not subject to tax.

Investment income

Investment income in the form of dividends from corporations and interest from banks in Saint Lucia is exempt from income tax. For individuals not ordinarily resident in Saint Lucia (i.e. those present for a short term), interest income, if arising outside Saint Lucia, is taxable only to the extent that it is remitted to Saint Lucia.

Intellectual property (IP)

IP forms part of an individual's taxable income and is subjected to the tax rates outlined in the tax table. If payable to a non-resident, a 25% withholding tax (WHT) rate applies.