Solomon Islands: Tax Summary and Statistical Appendix

International Monetary Fund

No 2007/303, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents the Tax Summary for the Solomon Islands. The paper discusses that normal business expenses are deductible against chargeable income. A $7,800 personal exemption applies to both resident and nonresident individuals. This general exemption is subject to apportionment on a pro-rata basis should the individual commence work part way through the year. In addition, the first $5,000 of interest income on deposits made with any savings bank or on fixed deposit accounts with any bank in the Solomon Islands are excluded from chargeable income.

Keywords: ISCR; CR; net profit; U.S. dollar; operating income; exchange rate; assessed income; Solomon Islands government; interest income; chargeable income; plantation Ltd; national interest; factor income; worldwide income; tax year; Goods tax; Personal income; Agroindustries; Imports; Income tax systems; Arrears; Asia and Pacific; Global (search for similar items in EconPapers)
Pages: 45
Date: 2007-09-17
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