Bonaire Tax Tables 2024 - Tax Rates and Thresholds in Bonaire
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This page contains the tax table information used for the calculation of tax and payroll deductions in Bonaire in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ BQ, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Bonaire or would like to add to or suggest amendments to the information herein then please contact us.
2024 Tax Tables [Quick Links]
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Bonaire Personal Income Tax Tables in 2024
The Income tax rates and personal allowances in Bonaire are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Bonaire Tax Calculator 2024.
Bonaire Residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)| Tax Rate | Taxable Income Threshold |
|---|
| 0% | Income from $ 0.000.00 | to | $ 20,424.00 |
| 30.4% | Income from $ 20,424.01 | to | $ 281,921.00 |
| 35.4% | Income from $ 281,921.01 | | and above |
Bonaire Non-residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)| Tax Rate | Taxable Income Threshold |
|---|
| 0% | Income from $ 0.000.00 | to | $ 20,424.00 |
| 30.4% | Income from $ 20,424.01 | to | $ 281,921.00 |
| 35.4% | Income from $ 281,921.01 | | and above |
Bonaire Social Security and Payroll Deduction Rates in 2024
In Bonaire, part of the Caribbean Netherlands, the social security and payroll deduction system is designed to provide a safety net for employees while contributing to the nation's welfare programs. Both employees and employers are required to contribute to various social security elements, each designed to fund specific aspects of social protection.
Bonaire Social Security in 2024: Rates for Employers and Employees| Category | Employee | Employer | Total |
|---|
| General Old Age Pension Act (AOV) | 25% | 0% | 25% |
| General Widows, Orphans Act (AWW) | 1.3% | 0% | 1.3% |
| Decree for Health Insurance | 0.5% | 11.7% | 12.2% |
| Accident Insurance Act (OV) | 0% | 0.1% | 0.1% |
| Cessantia (severance contribution) | 0% | 0.1% | 0.1% |
| Health Insurance Act (ZV) | 0% | 0.1% | 0.1% |
Bonaire Social Security and Payroll Deduction in 2024: Earnings Thresholds for Employers and Employees| Category | Employee | Employer |
|---|
| Min. | Max. | Min. | Max. |
|---|
| General Old Age Pension Act (AOV) | n/a | $ 31,635.00 | n/a | n/a |
| General Widows, Orphans Act (AWW) | n/a | $ 31,635.00 | n/a | n/a |
| Decree for Health Insurance | n/a | n/a | n/a | n/a |
| Accident Insurance Act (OV) | n/a | n/a | n/a | n/a |
| Cessantia (severance contribution) | n/a | n/a | n/a | n/a |
| Health Insurance Act (ZV) | n/a | $ 31,635.00 | n/a | n/a |
Health Insurance Contributions
One of the primary payroll deductions in Bonaire is for health insurance. These contributions ensure that employees have access to healthcare services. This system is crucial in Bonaire, providing coverage for medical treatments, hospital care, and other health-related needs.
Pension Contributions
Both employees and employers contribute to pension schemes, which are essential for providing financial security to individuals post-retirement. These contributions accumulate over an individual's working life and are used to fund their retirement benefits, ensuring a stable income source in their later years.
Unemployment and Disability Insurance
Contributions are also made towards unemployment and disability insurance. This aspect of social security offers financial support to those who are temporarily or permanently unable to work due to disability or in cases of job loss. It plays a vital role in providing stability and security to affected individuals and their families.
Workers' Compensation
Workers' compensation is another critical element funded by social security contributions. This provides protection to employees who suffer from work-related injuries or illnesses, covering their medical expenses and providing financial support during their recovery period.
The social security system in Bonaire, funded through these payroll deductions, is a key component of the nation's welfare structure. It offers essential protection and support to employees across various life situations, contributing to the overall social and economic stability of the community.
Bonaire VAT Rates in 2024
VAT rates for Bonaire are reviewed annually, you can use the VAT Calculator to calculate VAT due in Bonaire or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.
Bonaire VAT Rates| VAT Rate | VAT Description |
|---|
| 8% | Bonaire Standard Rate |
| 6% | Saba Standard Rate |
| 6% | Sint Eustatius Standard Rate |
Historic Tax Tables supported for Bonaire
The following tax tables are supported by iCalculator™ BQ as part of the suite of free tax tools we provide for Bonaire.