Tuvalu Tax Tables 2024 - Tax Rates and Thresholds in Tuvalu

This page contains the tax table information used for the calculation of tax and payroll deductions in Tuvalu in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ TV, 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 Tuvalu or would like to add to or suggest amendments to the information herein then please contact us.

Tuvalu Personal Income Tax Tables in 2024

The Income tax rates and personal allowances in Tuvalu 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 Tuvalu Tax Calculator 2024.

Tuvalu Social Security and Payroll Deduction Rates in 2024

In Tuvalu, the social security and payroll deduction system is designed to provide essential protections and benefits to workers and their families. While Tuvalu's system may not be as expansive as those found in larger countries, it focuses on providing critical support in key areas. The contributions made by employees and employers are aimed at funding these social security benefits, which include retirement benefits, healthcare, and support in case of disability or death.

Retirement Benefits Contributions

One of the primary components of social security in Tuvalu is the provision of retirement benefits. Both employees and employers contribute to a fund that is specifically designated for this purpose. The retirement benefits scheme is designed to provide financial support to individuals who have reached the age of retirement, ensuring they have a source of income even after they have stopped working.

Healthcare Contributions

Healthcare contributions are another crucial aspect of Tuvalu's social security system. These contributions help fund the national healthcare system, ensuring that all citizens have access to basic medical services. This includes preventive care, treatment for illnesses and injuries, and maternity care. The focus on healthcare is especially important in Tuvalu, where the remote location and limited resources make health services both critical and challenging to provide.

Disability and Death Benefits Contributions

Contributions for disability and death benefits provide crucial support to workers and their families in the event of a worker's long-term disability or death. These benefits are designed to offer financial assistance and support to those who are no longer able to work due to a disability, as well as to the families of workers who have died. This component of social security ensures that vulnerable members of the community are not left without support during difficult times.

Challenges and Opportunities

The social security system in Tuvalu faces unique challenges due to the country's small size, limited economic resources, and the impacts of climate change. Despite these challenges, the government of Tuvalu is committed to maintaining and improving the social security system to meet the needs of its citizens. This includes exploring sustainable funding mechanisms, enhancing the efficiency of social security administration, and ensuring that benefits keep pace with the cost of living.

In conclusion, the social security and payroll deduction system in Tuvalu plays a vital role in providing financial security and healthcare support to the country's workforce and their families. Through contributions from both employees and employers, Tuvalu aims to ensure that its citizens have access to essential services and support in times of need. While there are challenges to be addressed, the commitment to a robust social security system remains a key priority for the nation's wellbeing and development.

Tuvalu VAT Rates in 2024

VAT rates for Tuvalu are reviewed annually, you can use the VAT Calculator to calculate VAT due in Tuvalu or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Historic Tax Tables supported for Tuvalu

The following tax tables are supported by iCalculator™ TV as part of the suite of free tax tools we provide for Tuvalu.