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Invest Dominica Authority will assist investors in applying for Fiscal Incentives. Applications are submitted to the IDA, which makes recommendations to Government on the level and types of concessions that should be granted.
- Incentives available:
- The Fiscal Incentives Act, Chapter 84:51,allows for the granting of a tax holiday of up to fifteen (15) years, and waiver of import duty (plant, machinery, equipment, spare parts, building materials, raw and packaging materials, and others as appropriate) for the manufacture, assembling, agro processing and services by approved enterprises.
- The Hotels Aid Act, Chapter 85:04, and the Income Tax Act, Chapter 67.01, allow for the granting of a tax holiday of up to twenty (20) years for approved hotel and resort developments and waiver of import duty on hotel furniture and fixtures and building materials.
- Companies registered under the International Business Companies, Act No 10 of 1996 are exempt from the payment of taxes, duties, and similar charges for a period of twenty (20) years from the date of incorporation.
(a) Repatriation of profits;
- Foreign investors are allowed to repatriate 100% of profits.
(b) Withholding tax exemptions are allowed through the Income Tax Act, Chapter 67.01.
- Approved projects are allowed exemptions from payment of withholding taxes on dividends, interest payments, and other relevant external payments.
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