As we bid farewell to 2023, Grenadian taxpayers are reminded that the one-year tax amnesty, initiated by the government of Grenada has officially concluded. Aimed at recovering over EC $600 million in tax arrears, the amnesty, provided a significant opportunity for individuals to settle outstanding tax liabilities with late fees and penalties. During the amnesty…
In this blog post, we’ll be breaking down the recent changes to the National Insurance Scheme (NIS) that took effect from January 1, 2024. Breaking Down the Changes: The contribution rate will gradually increase from 12% to 16% between 2024 and 2031.Starting January 1, 2024, the contribution rate will go up from 12% to 12.5%,…
Effective January 1, 2024, Grenada’s Government has implemented a significant update to the minimum wage, impacting various sectors and professions. Outlined in SRO No. 42 of 2023, this change, the first since 2011, aligns with the Employment Act’s recommendations for revisions every three years. Under the revised Minimum Wages Order, all working individuals in Grenada…
You have an idea for a business, and you’re ready to take the plunge. You can’t wait to launch your own venture and make your dreams a reality. But where do you start? Starting a business can be an intimidating process, especially if you’re unfamiliar with the local laws and regulations of the country you’re…
Navigating the red tape and the hassles Have you ever wanted to work in a foreign country and explore a different culture but thought “Ugh, the red tape”? If so, don’t let the paperwork stand between you and your dream. It might seem daunting, but getting a work permit in Grenada is far from impossible….