#

Ease of Doing Business in

Solomon Islands

Solomon Islands Download Profile (1720.7KB, pdf)
Region East Asia & Pacific
Income Category Lower middle income
Population 583,591
GNI Per Capita (US$) 1,940
City covered Honiara

190

1

DB 2017 Rank

1

100

DB 2017 DTF (% points)

  • local_library
  • group
Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 104 105 up
1
59.17 58.79 down
0.38
Starting a Business 97 91 down
6
85.48 85.11 up
0.37
Dealing with Construction Permits 63 59 down
4
72.76 72.94 down
0.18
Getting Electricity 80 91 up
11
72.53 69.01 up
3.52
Registering Property 152 153 up
1
47.38 47.34 up
0.04
Getting Credit 82 78 down
4
50.00 50.00
-
Protecting Minority Investors 106 101 down
5
50.00 50.00
-
Paying Taxes 39 38 down
1
83.58 83.58
-
Trading across Borders 151 152 up
1
53.45 53.45
-
Enforcing Contracts 153 152 down
1
44.63 44.63
-
Resolving Insolvency 138 136 down
2
31.90 31.85 up
0.05

Positive= Doing Business reform making it easier to do business.Negative= Change making it more difficult to do business.

DB 2017 Rank:

39

DB 2016 Rank:

38

Change in Rank:

down1

DB 2017 DTF (% points):

83.58

DB 2016 DTF (% points):

83.58

Change in DTF (% points):

0.00

Indicator Solomon Islands East Asia & Pacific OECD high income
Payments (number per year) info_outline 34 22.9 10.9
Time (hours per year) info_outline 80 198.0 163.4
Total tax rate (% of profit) info_outline 32 33.9 40.9
Postfiling index (0-100) info_outline 99.1 59.6 85.1
Tax or mandatory contribution Payments (number) Notes on Payments Time (hours) Statutory tax rate Tax base Total tax rate (% of profit) Notes on TTR
Corporate income tax 5 8 30% taxable profit 23.26
Employer paid - National Provident Fund 12 30 7.5% gross salaries 8.46
Business license fee 1 various rates depending on activity 0.22
Property tax 1 0.5% assessed property value 0.04
Tax on check transactions 1 SBD 1 per check number of checks 0.02
Transaction fee on bank transactions 0 jointly SBD 240 fixed fee 0.02
Goods Tax (Sales tax) 12 42 10% sales 0.00 withheld
Employee paid - National Provident Fund 0 jointly 5% gross salaries 0.00 withheld
Fuel tax 1 fuel consumption 0.00 small amount
Stamp duty 1 various rates transaction value 0.00 small amount
Totals: 34 80 32
  • Taxes by type Answer
    Profit tax (% of profit) 23.3
    Labor tax and contributions (% of profit) 8.5
    Other taxes (% of profit) 0.2
    Answer Score
    Postfiling index (0-100) 99.1
    VAT refunds N/A
    Does VAT/GST exist? No
    Frequency of VAT/GST refund submission N/A
    Does a VAT/GST refund process exist per the case study? N/A
    Restrictions on VAT refund process N/A
    Likelihood of VAT audit N/A
    Time to comply with VAT refund (hours) N/A No VAT
    Time to obtain a VAT refund (weeks) N/A No VAT
    Corporate income tax audits 98.2
    Does corporate income tax exist? yes
    Likelihood of corporate income tax audit Unlikely
    Time to comply with a corporate income tax audit (hours) 2.5 98.2
    Time to complete a corporate income tax audit (weeks) 0.0 100.0
    Administrative appeal process
    First level administrative appeal authority Commissioner of Income Tax
    Is the appeal authority independent? Independent department within tax office
    Are appeal guidelines accessible to the public? Yes
    Source of appeal guidelines Online/in person at tax office
    Is there a legal time limit for the appeal authority to issue a decision on the tax appeal? No
    Legal time limit

Notes:

Name of taxes have been standardized. For instance income tax, profit tax, tax on company's income are all named corporate income tax in this table.

The hours for VAT include all the VAT and sales taxes applicable.

The hours for Social Security include all the hours for labor taxes and mandatory contributions in general.

The postfiling index is the average of the scores on time to comply with VAT refund, time to obtain a VAT refund, time to comply with a corporate income tax audit and time to complete a corporate income tax audit.

N/A = Not applicable.