Employment Cost Calculator for Grenada
Calculate your complete hiring costs for Grenada employees, including payroll taxes, social security contributions, employee benefits, and management fees. This salary calculator provides accurate employer cost estimates for informed hiring decisions.
Employer Tax Contributions
| Tax Type | Rate | Base |
|---|---|---|
| National Insurance Scheme (NIS) - Employer Share | 7% | Employee's insurable earnings (max EC$5,200/month) |
| Pay As You Earn (PAYE) Income Tax | Progressive | Employee's taxable income |
| Corporate Income Tax | 28% | Net income for resident companies |
| Value Added Tax (VAT) | 15% (standard) | Goods and services |
Filing & Compliance
- Monthly PAYE and NIS contributions are due by the 15th day of the month following the remuneration payment.
- Annual returns summarizing total remuneration and PAYE/NIS contributions are due by March 31st of the following year.
- Employers must register with the NIS and ensure all employees are registered within four days of commencing employment.
Income Tax Brackets
| Income Range | Tax Rate |
|---|---|
| Up to EC$36,000 | 0% |
| EC$36,001 to EC$60,000 | 15% |
| Over EC$60,000 | 30% |
Employee Contributions
| Deduction Type | Rate | Cap |
|---|---|---|
| National Insurance Scheme (NIS) | 6% | EC$5,200 per month |
Personal Allowances
- Personal Allowance: EC$36,000 per annum
- Contributions to approved pension schemes
- Certain medical expenses
