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SH Tax 2024

iCalculator™ SH: Saint Helena Tax Calculators

Welcome to iCalculator™ SH, your comprehensive suite of free tax calculators for Saint Helena. iCalculator™ has provided free tax calculators for Saint Helena since 2019. Since those early days we have extended our resources for Saint Helena to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. The Saint Helena Tax Calculator and salary calculators within our Saint Helena tax section are based on the latest tax rates published by the Tax Administration in Saint Helena. In this dedicated Tax Portal for Saint Helena you can access:

Saint Helena Tax Calculator 2024/25

The Saint Helena Tax Calculator below is for the 2024 tax year, the calculator allows you to calculate income tax and payroll taxes and deductions in Saint Helena. This includes calculations for

  1. Employees in Saint Helena to calculate their annual salary after tax.
  2. Employers to calculate their cost of employment for their employees in Saint Helena.
Saint Helena Tax Calculator 2024
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Advanced Saint Helena Salary Calculator 2024
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Discover Saint Helena

Saint Helena is a remote island located in the South Atlantic Ocean, one of the most isolated islands in the world. It is part of the British Overseas Territory, which also includes Ascension Island and Tristan da Cunha. Saint Helena itself does not have neighboring countries due to its remote location, but it is situated approximately midway between the coastlines of Africa and South America. The nearest landmass is the coast of Angola, to the east.

Geographical and Cultural Insights

The island is known for its rugged terrain and a subtropical climate. Saint Helena has a rich history, most notably as the place of Napoleon Bonaparte's exile and death after his defeat at the Battle of Waterloo. This historical aspect is a key part of the island's cultural heritage, attracting historians and tourists alike. The population of Saint Helena is a melting pot of cultures, primarily descendants of settlers from Europe, slaves from Africa, and workers from India and China, creating a unique cultural identity.

Economic Overview of Saint Helena

The economy of Saint Helena is small, with limited natural resources, and heavily dependent on external aid, primarily from the United Kingdom. The key economic sectors include public administration, tourism, fishing, and agriculture. The island's economy faces significant challenges due to its isolation, but efforts have been made to stimulate economic growth and reduce dependence on imports.

Key Economic Sectors

  1. Tourism: The tourism industry is a growing sector, with the island's historical significance, unique ecology, and rugged landscape attracting visitors. The completion of the Saint Helena Airport in 2016 has the potential to increase tourist arrivals, although access remains limited.
  2. Agriculture: Agriculture on Saint Helena is focused on self-sufficiency, with local production of vegetables, fruits, and livestock. The sector is small but vital for local consumption and reducing import costs.
  3. Fishing: Fishing is another important industry, with the island's economic zone offering tuna and other fish species. Efforts are underway to sustainably develop the fishing industry for export and local consumption.
  4. Public Administration: Public administration is a significant employer on the island, reflecting its status as a British Overseas Territory and the importance of public services for the local population.

Despite its remote location and economic challenges, Saint Helena is working towards sustainable development. The island's economy is bolstered by its community's resilience and the gradual growth of tourism and other sectors. With continued support and investment, Saint Helena aims to diversify its economy and create new opportunities for its residents.

Tax Overview of Saint Helena

The taxation system in Saint Helena is designed to support the island's public services and infrastructure while encouraging economic growth and development. As a remote British Overseas Territory, Saint Helena has developed a tax regime that suits its unique economic and geographical conditions, focusing on simplicity and fairness to both individuals and businesses.

Income Tax

Income tax in Saint Helena is levied on individuals and businesses operating on the island. The system is structured to ensure that taxation is progressive, with the aim of distributing the tax burden fairly among different income groups. This progressive nature ensures that higher earners contribute a more significant proportion of their income to the public coffers, which in turn supports social services and the island's development.

Customs Duties

Customs duties are a crucial part of the taxation landscape in Saint Helena, given the island's reliance on imported goods. These duties are imposed on a wide range of imported goods to protect local industries and generate revenue for the territory. The rates and categories for customs duties are periodically reviewed to reflect the changing needs of the island's economy and its residents.

Value-Added Tax (VAT)

While Saint Helena does not have a Value-Added Tax (VAT) system as seen in many other jurisdictions, it employs other forms of indirect taxation on goods and services. These taxes are designed to raise additional revenue needed for public spending without placing undue burden on any single sector of the economy.

Property Tax

Property tax in Saint Helena is levied on land and property owners. This form of tax contributes to the funding of local services such as waste management, road maintenance, and community services. The property tax system is designed to be fair, with rates based on the value and use of the property.

The taxation system in Saint Helena plays a pivotal role in the territory's financial sustainability and service provision. Through a balanced approach to taxation, the government aims to foster a conducive environment for economic development while ensuring that essential services are adequately funded. For residents and businesses looking to understand more about their tax obligations or seeking to take advantage of available tax incentives, the latest tax tools and tax tables provide valuable resources. These tools offer insights into effective tax planning and compliance within Saint Helena's unique economic context.