Tax is payable on the worldwide income of a resident company, whereas a nonresident company is taxed on income accrued in or derived from the Solomon Islands.

The tax rate for resident companies is a flat rate of 30 per cent and non-resident companies are subject to a rate of 35 per cent.

There is a goods tax imposed and levied on the final wholesale price of goods that are produced domestically or imported, whether new or used. The goods tax on imported goods is 15 per cent.

Import taxes may also be applicable on certain imported goods and a sales tax may also be levied at the retail level for specified services.

An export tax may also be levied on:

  • various land and marine fauna shells
  • gold
  • metal scrap
  • logs and lumber
  • fish
  • various agricultural products.

You should seek formal accounting and tax advice from a reputable company.