Staying tax compliant
In the British Virgin Islands payroll tax is levied at different flat rates depending on your business annual revenue and workforce size.
With the newly established National Health Insurance being modeled off of the Social Security schedule system, where a rate is applied for both employer and employee with a max cap amount for different pay frequencies. Meanwhile other benefits such as accommodation and motor are being included in the PAYE system. These quirks add complexity for companies in meeting their employer obligations.
BDO's team of employment tax specialists can provide tailored advice and services across a range of wider employment tax issues. We can assist with a review of your payroll and fringe benefits to ensure you are managing your compliance. We're happy to review any part of your tax arrangements as a stand-alone exercise or as part of a wider corporate tax health check.
Contact a BDO Tax adviser to find out more about how BDO can help.