Saint Lucia Confirms Personal Income Tax Amendments from January 2023

The St. Lucia Chamber of Commerce, Industry & Agriculture has published a presentation from the Inland Revenue Department on changes to the personal income tax regime with effect from 1 January 2023 as provided by the Income Tax (Amendment) Act No. 21 of 2022. The presentation confirms changes reported earlier, including a reduction in the number of brackets from four to three:

• up to XCD 15,000 - 15%
• XCD 15,001 to 30,000 - 20%
• over XCD 30,000 - 30%

In addition to the bracket/rate chan…