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Commencing January 2008, Dominicans should have some more money in their pockets. The Dominica house of Assembly unanimously passed the Income Tax (Amendment) Act 2007. The Income Tax Amendment Act makes changes to the current tax system, increasing the personal allowance from EC$15,000 to $18,000.

Beginning 1st January 2008, government’s intends to increase the tax free allowance threshold to $20,000 big ones, reduce the rate of the first $20,000 to taxable income to 15%, reduce the rate on the first $30,000 of taxable income to 25% and reduce the rate on taxable income above $30,000 to 35%.

Source – Chronicle Newspaper

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