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GD Tax 2023

Grenada Tax Tables 2023 - Tax Rates and Thresholds in Grenada

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This page contains the tax table information used for the calculation of tax and payroll deductions in Grenada in 2023. These tax tables are used for the tax and payroll calculators published on iCalculator™ GD, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Grenada or would like to add to or suggest amendments to the information herein then please contact us.

Grenada Personal Income Tax Tables in 2023

The Income tax rates and personal allowances in Grenada are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Grenada Tax Calculator 2023.

Grenada provides an annual "Standard Deduction" that is deducted from your total income to produce your taxable income in Grenada in 2023:

Grenada Standard Deduction in 2023
Residence StatusStandard Deduction
Resident$ 36,000.00
Non-resident$ 0.00
Grenada Residents Income Tax Tables in 2023
Personal Income Tax Rates and Thresholds (Annual)
Tax RateTaxable Income Threshold
10%Income from $ 0.000.00to $ 24,000.00
30%Income from $ 24,000.01 and above
Grenada Non-residents Income Tax Tables in 2023
Personal Income Tax Rates and Thresholds (Annual)
Tax RateTaxable Income Threshold
15%Flat rate on all taxable income

In Grenada, social security deductions made by employees are not deductible when calculating taxable income. This means that the amounts employees contribute towards social security are included in their gross income and are subject to income tax. Consequently, these social security contributions do not reduce the taxable income of the employees, and the overall income tax liability is calculated based on the gross income before any social security deductions are made. This approach aligns with the tax systems in many countries where social security contributions are not deductible from taxable income.

Grenada Social Security and Payroll Deduction Rates in 2023

In Grenada, both employees and employers contribute to a social security system, which provides various benefits and support to the workforce. The main elements of these contributions include pension funds, sickness and maternity benefits, employment injury benefits, and survivors' benefits.

Grenada Social Security in 2023: Rates for Employers and Employees
National Insurance (NIS)5.75%6.75%12.5%
Grenada Social Security and Payroll Deduction in 2023: Earnings Thresholds for Employers and Employees
National Insurance (NIS)n/a$ 62,400.00n/a$ 62,400.00

Grenada VAT Rates in 2023

VAT rates for Grenada are reviewed annually, you can use the VAT Calculator to calculate VAT due in Grenada or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Grenada VAT Rates
VAT RateVAT Description
10%Hotel and Accomodation
15%Standard Rate
20%Cell Phones

Historic Tax Tables supported for Grenada

The following tax tables are supported by iCalculator™ GD as part of the suite of free tax tools we provide for Grenada.