Tuvalu - Taxation

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Revenue is obtained principally by means of indirect taxation: stamp sales, the copra export tax, fishing licenses., telephone line leasing, earnings from the Tuvalu Trust Fund, and profits from .tv Corporation, the enterprise set up in 1990 through a leasing arrangement with Idealab, a California corporation, to market the country's internet address, .tv.

The personal income tax rate on chargeable income is 30%. The company income tax rate on chargeable income is also 30%, down from 40%. The income of both nonresidents and foreign resident companies is taxed at a flat rate of 40%. There are a variety of sales taxes applied to a variety of goods and services. Island councils also levy a head tax and a land tax based on territorial extent and soil fertility.

Also read article about Tuvalu from Wikipedia

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Mar 21, 2011 @ 10:22 pm
How is PAYE tax for employees calculated. How many percent is deducted in 2007 and how much deducted in 2009

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