Pursuant to the provisions of the Income Tax Act Cap 20.22, all Nevis Business Corporations (“NBCs”) and Nevis Limited Liability Companies (“LLCs”) are required to file annually a Corporate Income Tax Return (“CIT-101”).
The Nevis Inland Revenue Department’s online platform is ready to accept filings for the year 2024.
The regulatory deadline to file the CIT-101 for the base year 1 January 2024 to 31 December 2024 is April 15, 2025. Due to technical disruptions the competent authority has granted an extension until 15 May 2025.
What needs to be done?
All clients with a portfolio of Nevis entities will shortly receive an online CIT-101 form drafted by OMC GROUP, based on the requirements outlined by the competent authority’s platform.
- Clients are encouraged to submit the online CIT-101 form no later than 5 May 2025 to avoid the risk of delayed processing and penalties of up to ECD 10,000 (approximately USD 3,700 based on the current exchange rate) for non-compliance, such as failing to report within the prescribed deadline.
- The declarant and certifier responsible for reviewing, completing, and signing the online form must ensure that the information declared in the entity’s Corporate Tax Return pertains solely to the entity itself. This information cannot be replaced, partially or completely, by data relating exclusively to OMC Group, its Agents, Directors, Dignitaries, Executives, Officers, Employees, or any affiliated or related companies.
For more information, please review the CIT-101 Return Guidelines.
