Month: February 2018
Income Tax in Oman
Income Tax in Oman Personal Income Tax There is no personal income tax in Oman. Corporate Income Tax Corporate income tax. Companies, which include Omani companies, partnerships, joint ventures and sole proprietorships, and permanent establishments of foreign companies are subject to Omani income tax. A permanent establishment is defined in the law. In addition, a permanent establishment is created for a foreign person providing consultancy or other services in Oman through employees or designat...
Read more →Income Tax in Isle of Man
Income Tax in Isle of Man Personal Income Tax Who is liable. Residents are subject to tax on worldwide income. Nonresidents are subject to tax on income from Isle of Man sources only. Individuals are considered resident in Isle of Man if any of the following conditions applies: · They are present for six months or more during the tax year. · They are present for an average of 90 or more days per tax year over a period of four or more consecutive years. · The individual’s specific circumstances i...
Read more →Income Tax in Egypt
Income Tax in Egypt Personal Income Tax Individual income tax is imposed on the total net income of the resident individuals for income earned in Egypt, as well as the income earned outside Egypt for resident individuals whose centre of commercial, industrial, or professional activities is in Egypt. Also, tax is imposed on the income of non-resident individuals for their income earned in Egypt. Earned income (EGP) Tax rate on bracket (%) Tax credit First 7,200 0 N/A 7,201 to 30,000 10 80% 30,001...
Read more →Income tax in Maldives
Income tax in Maldives Personal Income Tax Tax on Business Profit Under the Business Profits Tax (BPT) Act of 2011, a business profits tax is imposed at a rate of 15%. All persons, including individuals accruing profits from businesses, are subject to the tax on their taxable profits. The first MVR500,000 (USD32,425) is exempt from tax. Specified payments, such as management fees, technical services fee, royalty and rent for immovable property, made to nonresidents are subject to withholding tax...
Read more →Income Tax in Trinidad and Tobago
Income Tax in Trinidad and Tobago Personal Income Tax Persons who are resident, ordinarily resident, or domiciled in Trinidad and Tobago are taxed on their worldwide income, whether or not such earnings are remitted to Trinidad and Tobago. A non-resident individual is taxed on income arising in Trinidad and Tobago, subject, where applicable, to the provisions of double taxation treaties (DTTs). Personal income tax rates The income tax rate for individuals with chargeable income less than TTD 1 m...
Read more →Income Tax in Jersey
Income Tax in Jersey Personal Income Tax Individuals who are resident and ordinarily resident in Jersey are liable to Jersey income tax on their worldwide income; however, individuals who are resident but not ordinarily resident in Jersey are taxed on Jersey-source income, and overseas income is subject to tax to the extent that it is remitted to Jersey. A person who is not resident in Jersey is liable to Jersey income tax on Jersey-source income, except for some specific exemptions, including J...
Read more →Income Tax in Jordan
Income Tax in Jordan Personal Income Tax Any income incurred in or from Jordan, for any person, regardless of the place of payment, shall be subject to tax in Jordan. Personal income tax rates Personal income tax (PIT) rates are applied progressively as follows: Taxable income (JOD*) PIT rate (%) The first 10,000 7 The second 10,000 14 The remaining balance 20 Local income taxes The Jordan PIT is the only tax on personal income in Jordan. There are no other taxes on personal income imposed at th...
Read more →Income Tax in Kazakhstan
Income Tax in Kazakhstan Personal Income Tax Kazakhstan tax residents are taxed on their worldwide income, whereas tax non-residents are taxed only on their Kazakhstan-source income that is non-taxable at source (e.g. capital gain, rental, or property income). Personal income tax rates A single flat rate of 10% (in some cases 20%) is applicable to most types of personal income; 5% is applicable for dividends received in and outside of Kazakhstan. Residency Rule Tax residents are defined as indiv...
Read more →Income Tax in Kenya
Income Tax in Kenya Personal Income Tax Individuals are subject to income tax on employment earnings if they meet either of the following conditions: · They are resident during the time of employment, regardless of whether their duties are performed within or outside Kenya. · For nonresidents, their employer is resident or has a permanent establishment in Kenya. Who is liable. An individual is considered resident in Kenya if he or she has no permanent home in Kenya and is present in Kenya for 18...
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