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In this section you will lean more about Government, International Business and Local Corporations and related tax information.

Examples of Incentives offered to corporations include: exemptions from tax for dividends paid by one local company to the other, contributions to venture capital funds, cash rebates for capital expenditure on agricultural machinery or plant, deductions within certain limits for capital expenditure on commercial and industrial buildings, allowances of 120%/150% of amounts contributed to assist in tourism development and research, for engaging the services of trade experts, and for investing sums for on lending by specific government created companies.

For corporations the place of management and control determines the residence for tax purposes.

Domestic corporations are taxed on their world income, whereas external companies carrying on business through a branch, pay corporation tax on locally sourced income as well as a tax on branch profits remittances.

Corporation tax is paid on profits at the current rate of 25% of every complete dollar of taxable income. Under certain conditions, outlined in the 'Small Business Development Act' small businesses pay tax at a rate of 15% of every complete dollar of taxable income.

In the offshore sector, locally incorporated International Business Companies and Offshore Banks pay corporation tax at rates of 2.5%, reducing to 1%, while Captive Insurance Companies are tax exempt.