DoubleTaxationTaxes on salary: Grenada preliminary data
How much income tax and social contributions are paid on a salary in Grenada, what a sole proprietor and a company pay, and which special regimes exist. Preliminary data.
Preliminary data: headline rates from official sources and bulletins of international organisations, without reliefs or special rules; being refined.
Calculation for a gross salary of €60,000 per year
| Gross salary | EC$189,880 ≈ €60,000 |
|---|---|
| Income tax | EC$38,766 ≈ €12,250 |
| Employee contributions | EC$3,000 ≈ €948 |
| Take-home pay | EC$148,114 ≈ €46,802 |
| Employer contributions and payroll taxes | EC$3,600 ≈ €1,138 |
| Employer's labour cost | EC$193,480 ≈ €61,138 |
Only some of the country's direct taxes and levies are counted: income tax on wages and compulsory contributions. Not counted: property and real-estate taxes; taxes on dividends, interest and other investment income; inheritance and gift taxes; indirect taxes such as VAT, excise and customs duties.
Taxes for sole proprietors and companies
Tax and contributions on the profit for a year; expenses are 10% of revenue, the company pays its profit out to the owner. Reliefs and local taxes are not included.
| Annual revenue | €30,000 EC$94,940 | €60,000 EC$189,880 | €120,000 EC$379,760 |
|---|---|---|---|
| Sole proprietor | EC$9,525 11.1 % | EC$33,450 19.6 % | EC$81,300 23.8 % |
| Company | EC$23,925 28.0 % | EC$47,850 28.0 % | EC$95,700 28.0 % |
| Sole proprietor · Annual Stamp Tax | EC$475 0.6 % | EC$949 0.6 % | EC$1,899 0.6 % |
Special tax regimes
There are no special regimes for individuals.
Tax residence
The tax residence check does not cover Grenada yet.
Assumptions
- Calculated with the OECD Taxing Wages methodology: income tax including local taxes plus employee social security; single person without children, tax year 2026, ECB rate of 2 January 2026.
- Exchange rate: 1 EUR = 3.16467 XCD (ECCB — EC dollar fixed at EC$2.70 per US$1 since 7 July 1976, 02/01/2026) ↗
Sources
- ECCB — Currency FAQ (EC$2.70 peg)
- Grenada Ministry of Finance — News release 15 Jan 2014: new income tax regime (bands, EC$36,000 threshold, CIT)
- Grenada Ministry of Finance — All you need to know about Personal Income Tax
- Parliament of Grenada — S.R.O. 2 of 2017 Income Tax (Amendment) Order (first band 15% -> 10% from 1 Jan 2017)
- Parliament of Grenada — Income Tax (Amendment) Act No. 27 of 2015
- NIS Grenada — Contributor: Employer
- NIS Grenada — Contributor: Employee
- Parliament of Grenada — S.R.O. 25 of 2018, Income Tax (Amendment) Order: 30% replaced by 28% in the Fifth Schedule from 1 Jan 2019
- Parliament of Grenada — Income Tax Act Cap. 149 (2010 rev.), Fifth Schedule rates for individuals and companies
Data checked: 08/11/2026. An indicative calculation for a typical case. Not tax advice.