- Brackets updated
migrated from the production database; research reasoning not recorded.
Top income tax
26.0%
Worldwide system
Corporate tax
26.0%
VAT/GST
None
standard rate
Tax residency
183 days
1 tax treaties
Falkland Islands tax profile
Data year: 2026
- Tax system
- Worldwide British Overseas Territory. Residents and ordinarily resident individuals are taxed on worldwide income. Income tax applies on chargeable income after the personal allowance (FKP 16,860 for 2026 for qualifying residents) and other deductions: 21% on the first FKP 18,000 of chargeable income and 26% on the remainder. Corporation tax is 21% on the first FKP 500,000 of non–ring-fence profits (threshold shared among associated companies) and 26% above; oil exploration and exploitation ring-fence profits are taxed at 26% on all profits.
- Top PIT rate
- 26.0%
- Corporate tax rate
- 26.0%
- VAT/GST
- No VAT/GST
- Capital gains tax
- No Capital Gains Tax
- Social security (employee)
- 0.0%
- Social security (employer)
- 0.0%
- Dividend withholding
- 0.0%
- Interest withholding
- 0.0%
- Royalty withholding
- 0.0%
- Treaty count
- 1
Income tax brackets
Corporate
| Bracket min | Bracket max | Rate |
|---|---|---|
| FKP 0 | FKP 500,000 | 21.0% |
| FKP 500,000 | and above | 26.0% |
Personal income
| Bracket min | Bracket max | Rate |
|---|---|---|
| FKP 0 | FKP 18,000 | 21.0% |
| FKP 18,000 | and above | 26.0% |
Tax residency
- Days threshold
- 183 days
- Residency rules
- Tax resident if physically present in the Islands for 183 or more days in the calendar tax year. Repeatedly resident except for a temporary absence is ordinarily resident. Non-residents are generally taxed on Falkland Islands–source income; foreign-source income of non-residents is exempt under the Taxes Ordinance.
- Exit tax
- No
- CFC rules
- No
Filing information
- Fiscal year
- 01-01 – 12-31
- Filing deadline
- July 31 (or 60 days from issue, whichever is later)
Sources
- FIGTO — Individuals & Employees (accessed Oct 9, 2026) 2026 personal allowance FKP 16,860; PIT 21%/26% on chargeable income; residency 183-day test; filing and payment dates
- Taxes Ordinance 1997 (consolidated to 2025-01-01) (accessed Oct 9, 2026) Worldwide PIT scope for residents; s.10 rates on first FKP 18,000 at 21% and remainder at 26%; non-resident foreign-source exemption
- FIGTO — Companies (accessed Oct 9, 2026) CIT 21% on first FKP 500,000 of non–ring-fence profits, 26% above; ring-fence oil profits at 26%
- HMRC — Falkland Islands tax treaties (accessed Oct 9, 2026) 1997 UK–Falkland Islands double taxation arrangement in force
- FIG — General Tax Guide for Individuals (2024 onwards) (accessed Oct 9, 2026) Medical Services Tax 0% since 2018; POAT withholding; residency definitions
Change history
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- Brackets updated
migrated from the production database; research reasoning not recorded.
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migrated from the production database; research reasoning not recorded.
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migrated from the production database; research reasoning not recorded.
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migrated from the production database; research reasoning not recorded.
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- Brackets updated
migrated from the production database; research reasoning not recorded.
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- Brackets updated
migrated from the production database; research reasoning not recorded.
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- Brackets updated
migrated from the production database; research reasoning not recorded.
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- Brackets updated
migrated from the production database; research reasoning not recorded.
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- Brackets updated
migrated from the production database; research reasoning not recorded.