Nevis Corporate Income Tax (CIT) Return

VISS
2 days ago
1 min read

All Nevis Business Corporations (“NBCs”) and Nevis Limited Liability Companies (“LLCs”) are mandated to submit an annual Corporate Income Tax Return (“CIT-101”) to the Nevis Revenue Authority.

Clipboard with "CIT-101 Corporate Income Tax Return," calculator, scales, gavel, flag, glasses, money, and globe on wooden desk. Legal setting.

Who must file?

All Nevis-registered companies, including International Business Corporations (IBCs) and Limited Liability Companies (LLCs).

Filing deadline:

The CIT Return (using the CIT-101 form) must be filed within 3½ months after the end of your company’s fiscal year.
For example, if your fiscal year ends on December 31, the return is due by April 15 of the following year.

What is required?

Complete and submit the CIT-101 form reporting your company’s income and tax status.
Supporting financial information may also be required.

Penalties for late filing:

Failure to file on time may result in fines up to US$10,000 as per the Income Tax Act.

Who files the return?

In most cases, the company’s registered agent files the CIT-101 form on behalf of the company.

Should you require any assistance, please send us your message at Contact@viss.com.hk.