#

Ease of Doing Business in

St Lucia

St Lucia Download Profile (1711.8KB, pdf)
Region Latin America & Caribbean
Income Category Upper middle income
Population 184,999
GNI Per Capita (US$) 7,390
City covered Castries

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 86 78 down
8
63.13 63.47 down
0.34
Starting a Business 66 63 down
3
88.80 88.68 up
0.12
Dealing with Construction Permits 54 50 down
4
74.54 74.51 up
0.03
Getting Electricity 56 29 down
27
79.78 83.94 down
4.16
Registering Property 104 103 down
1
59.16 59.19 down
0.03
Getting Credit 157 152 down
5
25.00 25.00
-
Protecting Minority Investors 87 85 down
2
53.33 53.33
-
Paying Taxes 65 63 down
2
78.09 78.09
-
Trading across Borders 81 80 down
1
73.87 73.24 up
0.63
Enforcing Contracts 71 70 down
1
59.94 59.94
-
Resolving Insolvency 114 110 down
4
38.79 38.73 up
0.06

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

DB 2017 Rank: 65

DB 2016 Rank: 63

Change in Rank: down2

DB 2017 DTF (% points): 78.09

DB 2016 DTF (% points): 78.09

Change in DTF (% points): 0.00

Indicator St Lucia Latin America & Caribbean OECD high income
Payments (number per year) info_outline 35.0 28.9 10.9
Time (hours per year) info_outline 110.0 342.6 163.4
Total tax rate (% of profit) info_outline 34.7 46.3 40.9
Postfiling index (0-100) info_outline 87.2 42.8 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
Employer paid - Social security contributions 12 51 5% gross salaries 5.64
Corporate income tax 4 11 30% taxable profit 25.82
Property transfer tax (stamp duty) 1 4.325% sale price 2.62
Property tax 1 0.4% property value 0.55
Vehicle tax 1 size or capacity of vehicle 0.06
Tax on insurance contracts 1 3% insurance premium 0.03
Tax on check transactions 1 30 cents per check 0.01
Fuel tax 1 included in fuel price 0.00
Stamp duty on contracts 1 varies type of contract 0.00 small amount
VAT 12 48 0% 10% 15% Value of Goods or Services unless exempted 0.00
Employee paid - Social security contributions 0 jointly 5% gross salaries 0.00 withheld
Totals: 35.0 110.0 34.7
  • Taxes by type Answer
    Profit tax (% of profit) 25.8
    Labor tax and contributions (% of profit) 5.6
    Other taxes (% of profit) 3.3
    Answer Score
    Postfiling index (0-100) 87.2
    VAT refunds
    Does VAT/GST exist? Yes
    Frequency of VAT/GST refund submission monthly
    Does a VAT/GST refund process exist per the case study? Yes
    Restrictions on VAT refund process Carry forward for 3 months
    Likelihood of VAT audit Likely
    Time to comply with VAT refund (hours) 8.3 83.5
    Time to obtain a VAT refund (weeks) 19.7 68.2
    Corporate income tax audits
    Does corporate income tax exist? Yes
    Likelihood of corporate income tax audit Unlikely
    Time to comply with a corporate income tax audit (hours) 3.0 97.2
    Time to complete a corporate income tax audit (weeks) 0.0 100.0
    Administrative appeal process
    First level administrative appeal authority Comptroller of Inland Revenue
    Is the appeal authority independent? Different Auditor
    Are appeal guidelines accessible to the public? Yes
    Source of appeal guidelines Online/in printed publication/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.