Jurisdictional Updates
Quick Guide: Nevis Corporate Income Tax (CIT) Return
All Nevis Business Corporations (“NBCs”) and Nevis Limited Liability Companies (“LLCs”) are required to file annually a Corporate Income Tax Return (“CIT-101”).
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:
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- 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.
Got questions or need help? Reach out anytime at quijano@quijano.com — we’re ready to assist!
For more details, please see below our memos and the official Nevis tax authority resources here: