- a 90% reduction in local
income tax payments on income from the IDC business, plus qualifying
passing income.
- A 90% reduction in local
income tax on
corporate dividends, S corporation distributions or partnership
distributions
paid to qualifying USVI residents.
- A reduction in the customs
duty rate
for the standard 6% to 1% for the value of raw materials and component
parts
imported from outside the United States.
- A full exemption from excise
tax payments on raw materials and component parts.
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- A full exemption from
property taxes and
the gross receipts tax.
- A reduction in the tax rate
on company
dividends from 10% to 4%, with an additional modification to 2% if at
least
half of the dividends are reinvested in eligible USVI activities for at
least two years..
- An exemption from the
withholding tax
on interest.
- Availability of rental space
in the St.,
Croix Industrial Park and the St.Thomas Industrial Park.
- A 100% excise tax exemption
for building
materials, machinery, equipment and supplies in building or expanding
the physical
plant.
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