The Economic Development Commission (EDC) offers a unique and attractive tax incentive program for companies located in the USVI. This is a competitive offshore tax benefit program that is sanctioned by the U.S. Government. Below are some of the benefits your business can reap if eligible for the EDC program:
- 90% reduction in corporate income tax
- 90% reduction in personal income tax
- 100% exemption on gross receipt tax
- 100% exemption on business property tax
- 100% exemption on excise tax payments
- Reduction in the customs duty from the standard 6% to 1%
- Tax reduction on royalty income from software developed in the USVI and sold to non-US customers
- Availability of rental space at below market rates in the St. Croix and St. Thomas Industrial Parks
For Opportunity Zones click here
“Revitalizing our towns one building at a time”
The Enterprise Zone Commission (EZC) was created to revitalize blighted and distressed communities that once were socially and economically vibrant. The authorizing act provides for tax incentives and economic development benefits free from regulatory barriers which inhibit economic growth, and also encourages collaboration among public, private and non-profit entities in order to accomplish the desired objectives.
The designated enterprise zones are Savanne-Downstreet, Garden Street-UpStreet on St. Thomas and the towns of Christiansted and Frederiksted on St. Croix.