Employment Cost Calculator for Virgin Islands (British)
Calculate your complete hiring costs for Virgin Islands (British) 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 |
|---|---|---|
| Payroll Tax (Class 1 Employer) | 10% (2% employer, 8% employee) | Gross employee earnings over USD 10,000 annually |
| Payroll Tax (Class 2 Employer) | 14% (6% employer, 8% employee) | Gross employee earnings over USD 10,000 annually |
| Social Security | 4.5% employer, 4% employee | Gross employee earnings up to a specified annual ceiling (max insurable earnings USD 6,500) |
| National Health Insurance (NHI) | 3.75% employer, 3.75% employee | Gross employee earnings up to an annual ceiling (USD 77,220) |
Filing & Compliance
- Monthly contributions for Payroll Tax, Social Security, and NHI are due by the 15th day of the following month.
- Employers must deduct employee portions of Payroll Tax, Social Security, and NHI from gross pay.
- Annual financial returns must be filed with the registered agent within nine months of the company's financial year-end, unless exempt.
Income Tax Brackets
| Income Range | Tax Rate |
|---|---|
| All income | 0% (No personal income tax) |
Employee Contributions
| Deduction Type | Rate | Cap |
|---|---|---|
| Payroll Tax (Employee Portion) | 8% | Applies to income over $10,000 annually |
| Social Security (Employee Portion) | 4% | Subject to an annual ceiling |
| National Health Insurance (Employee Portion) | 3.75% | No annual ceiling |
Personal Allowances
- First $10,000 of annual salary is exempt from payroll tax.
- Exemption applies once; if working for multiple employers, only the primary employer applies the exemption.
- No traditional income tax deductions or personal allowances (e.g., for dependents, mortgage interest, charitable donations).
