St. Lucia

Ease of Doing Business in

St. Lucia

This page summarizes Doing Business 2014 data for St. Lucia. The first table lists the overall "Ease of Doing Business" rank (out of 189 economies) and the rankings by each topic. It also lists the economy's distance to frontier (DTF)** measure. The rest of the tables summarize the key indicators for each topic and benchmark against regional and high-income economy (OECD) averages.

Economy Overview

Region Latin America & Caribbean
Income Category Upper middle income
Population 180,870
GNI Per Capita (US$) 6,530
City covered Castries
Doing Business 2014 Rank Doing Business 2013 Rank*** Change in Rank
64 59 down -5

Doing Business 2014 DTF** (% points) Doing Business 2013 DTF** (% points) Change in DTF** (% points)
65.84 65.91 down -0.07
Positive=Doing Business reform making it easier to do business. Negative=Doing Business reform making it more difficult to do business.
 

Paying Taxes

Info

This data shows the tax that a medium-size company must pay or withhold in a given year, as well as measures of the administrative burden in paying taxes. These measures include the number of payments an entrepreneur must make; the number of hours spent preparing, filing, and paying; and the percentage of their profits they must pay in taxes.

DB 2014 Rank 45 DB 2013 Rank*** 44 Change in Rank down-1
DB 2014 DTF** (% points) 74.74 DB 2013 DTF** (% points) 74.95 Change in DTF** (% points) down-0.21
Indicator St. Lucia Latin America & Caribbean OECD

The total number of tax payments per year. The indicator reflects the total number of taxes and contributions paid, the method of payment, the frequency of payment and the number of agencies involved for a standardized case during the second year of operation.

View methodology
Payments (number per year)
32 30 12

The time it takes to prepare, file and pay (or withhold) the corporate income tax, the value added tax and social security contributions (in hours per year).

View methodology
Time (hours per year)
97 369 175

The amount of taxes on profits paid by the business as a percentage of commercial profits.

View methodology
Profit tax (%)
25.8 20.5 16.1

The amount of taxes and mandatory contributions on labor paid by the business as a percentage of commercial profits.

View methodology
Labor tax and contributions (%)
5.6 14.7 23.1

The amount of taxes and mandatory contributions paid by the business as a percentage of commercial profit that are not already included in the categories of profit or labor taxes.

View methodology
Other taxes (%)
3.1 12.1 2.0

The total tax rate measures the amount of taxes and mandatory contributions payable by the business in the second year of operation, expressed as a share of commercial profits.

View methodology
Total tax rate (% profit)
34.6 47.3 41.3
Tax or mandatory contribution Payments (number) Notes on Payments Time (hours) Statutory tax rate Tax base Total tax rate (% profit) Notes on TTR
Corporate income tax 1 11 30% taxable profit 25.8
Employer paid - Social security contributions 12 51 5% gross salaries 5.6
Property transfer tax (stamp duty) 1 4% sale price 2.5
Property tax 1 0.4% property value 0.6
Vehicle tax 1 size or capacity of vehicle 0.1
Fuel tax 1 included in fuel price 0
Tax on insurance contracts 1 3% insurance premium 0
Tax on check transactions 1 30 cents per check 0
VAT 12 34 0%, 8%, 15% Value of Goods or Services unless exempted ..
Stamp duty on contracts 1 varies type of contract .. small amount
Totals: 32 97 34.6

** The distance to frontier (DTF) measure shows the distance of each economy to the "frontier," which represents the highest performance observed on each of the topics including Getting Electricity across all economies included in Doing Business. An economy’s distance to frontier is indicated on a scale from 0 to 100, where 0 represents the lowest performance and 100 the frontier. Read more...

***Last year's rankings are adjusted: they are based on 10 topics and reflect data corrections.

Explore Economy Data


- OR -

OTHER OPTIONS

Close