Tax laws Saint Helena, Ascension and Tristan da Cunha (BOT)
Saint Helena, Ascension, and Tristan da Cunha are British Overseas Territories (BOT) with distinct taxation systems tailored to their unique administrative structures and economic activities.
Saint Helena:
Income Tax:
- Individuals: Progressive rates apply:
- 26% on the first £18,000 of chargeable income.
- 31% on income exceeding £18,000.
- Companies: Flat rate of 25% on chargeable income.
- Export and Local Production Incentives: Reduced rates for income derived from specific activities such as exportation, fishing, agriculture, and local manufacturing:
- Companies: 15%
- Individuals: 21% on the first £18,000; 26% on the remainder.
- Dividends: 8% tax for individuals; exempt for companies.
- Capital Gains: 10% tax on chargeable income.
Ascension Island:
Governance and Fiscal Autonomy: Ascension Island possesses its own Constitution, is internally self-governing, enacts its own laws, maintains a separate fiscal jurisdiction, and exercises taxation powers through the Governor.
Tristan da Cunha:
Legislative Framework: Following the 2009 constitutional changes, Tristan da Cunha became a separate territory with its own legislature, while sharing the Governor and certain administrative functions with Saint Helena and Ascension Island.
General Taxation Framework Across the Territories:
- Fiscal Independence: Each territory has the authority to legislate its own taxation policies, resulting in variations tailored to local economic and social contexts.
- Shared Constitutional Framework: While governance structures differ, the territories share a constitutional order that provides for internal self-governance, including the power to levy taxes.
Conclusion:
The taxation systems of Saint Helena, Ascension, and Tristan da Cunha are designed to suit their individual governance structures and economic environments. For precise and current tax information, individuals and businesses should consult the official government websites of each territory or seek advice from tax professionals familiar with the respective jurisdictions.
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