What are the TAX RATES for YA 2004 (year of income 2003)?
Income Tax rates are: 20% of the first $134,000.00 of the amount of CHARGEABLE INCOME. 33 1/3% of the remainder of CHARGEABLE INCOME. Property Tax rates are: For Individuals, 0% on the first $7.5 million of NET PROPERTY. ½% for every dollar of the next $5 million of NET PROPERTY and ¾% for every dollar of the remainder of NET PROPERTY. For Companies, 0% on the first $1.5 million, ½% of every dollar for the next $5 million of the NET PROPERTY, ¾% for every dollar of the remainder of NET PROPERTY. Corporation Tax rates are: 45% for COMMERCIAL COMPANIES or a minimum tax of 2% on turnover. 35% for the NON-COMMERCIAL COMPANIES. What is the TAX EXEMPT THRESHOLD for YA 2004 (Year of Income 2003)? Income Tax, The TAX EXEMPT THRESHOLD is $20,000.00 per month or $224,000.00 per year. Property Tax, INDIVIDUALS, the TAX EXEMPT THRESHOLD for NET PROPERTY is $7.5 million. COMPANIES, the TAX EXEMPT THRESHOLD for NET PROPERTY is $1.5 million.
