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Caribbean vs Turkey Taxation

Investment Basis

Dominica TaxationTurkey TaxationSaint Lucia Taxation
Currency Eastern Caribbean Dollar Türk Lirası Eastern Caribbean Dollar
Accounting Principles IFRS, Parent company IFRS IFRS, Parent company
Individual Worldwide Tax Basis Resident Resident, Domicile Resident
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Individual Taxation

Dominica TaxationTurkey TaxationSaint Lucia Taxation
Starting Taxable Income 1 18,000 833.33
Starting Income Tax Rate 15% 15% 10%
Highest Income Tax Rate 35% 40% 30%
No Individual Capital Gain Tax

Inheritance, Gift, Net Worth, Dividend, Interest Taxation

Dominica TaxationTurkey TaxationSaint Lucia Taxation
No Net Worth Tax
No Gift Tax
No Inheritance Tax
Dividend Tax Combined income 15% 0%
Interest Tax Combined income 0%-15% Combined income

Corporate Taxation

Dominica TaxationTurkey TaxationSaint Lucia Taxation
Income Tax Rate 25% 22% 30%
Branch Tax Rate 25% 22% 30%
No Capital Gain Tax

Withholding Taxation for Nonresidents

Dominica TaxationTurkey TaxationSaint Lucia Taxation
Dividends (Company) None 15% 0%
Interest (Company) None 0%/15% 15%/25%
Royalties (Company) None 20% 15%/25%
Fees for Technical Services (Company) None 20% 15%/25%
Dividends (Individual) None 15% 0%
Interest (Individual) None 0%/15% 15%/25%
Royalties (Individual) None 20% 15%/25%
Fees for Technical Services (Individual) None 20% 15%/25%

Withholding Taxation for Residents

Dominica TaxationTurkey TaxationSaint Lucia Taxation
Dividends (Company) 15% 0% 0%
Interest (Company) 15% 0% 10%
Royalties (Company) 15% 0% 10%
Fees for Technical Services (Company) 15% 0% 10%
Dividends (Individual) 15% 15% 0%
Interest (Individual) 15% 0% 10%
Royalties (Individual) 15% 20% 10%
Fees for Technical Services (Individual) 15% 20% 10%

Real Estate

Dominica TaxationTurkey TaxationSaint Lucia Taxation
Stamp Duty 1%-2.5% 2%
Transfer Tax None 3% 2.5%-5%
Real Property Tax None 0.1%-0.3% 0.4%/0.25%

Value Added Tax

Dominica TaxationTurkey TaxationSaint Lucia Taxation
Standard Rate 15% 18% 12.5%
Reduced Rate 0%/10% 0%/1%/8% 0%/10%

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