Falkland Islands

HC Deb 11 February 1976 vol 905 cc238-9W

Mr. Hooley

asked the Secretary of State for Foreign and Commonwealth Affairs (1) what is the current per capita income in £ sterling of the inhabitants of the Falkland Islands;

(2) what is the present rate of income tax and VAT payable in the Falkland Islands.

Mr. Rowlands

The current annualper capita income of the inhabitants of the Falkland Islands is estimated at £1,000 sterling. Rates of tax on taxable income are as follows:

• On every pound of the first £500, 15 per cent.
• On every pound of the next £500, 20 per cent.
• On every pound of the next £500, 25 per cent.
• On every pound of the next £1,000, 30 per cent.
• On every pound of the next £1,000, 35 per cent.
• On every pound of the next £1,000, 40 per cent.
• On every pound of the next remainder, 45 per cent.

There is no VAT in the Falkland Islands.