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   taxes and fiscal incentives in st. kitts   

     

     

    There are no personal income taxes in St. Kitts. However, local companies are subject to corporate tax on profits. St. Kitts international financial services sector offers numerous taxation benefits to offshore companies, limited liability companies and trusts. These include exemption from income, social security, capital gains, withholding, gift, estate and succession taxes. Furthermore, as practiced in many developed countries, under the Fiscal Incentives Act, certain qualified companies wishing to conduct business in Nevis may be granted tax holidays, concessions and exemptions from import duties on parts, raw materials and production machinery.

     

    VAT or Value Added Tax is a tax on consumption. It is charged on the value of imports and on the value added (mark-up) on goods and services supplied by one business to another or to the final consumer.

     

    The tax is levied on imports, transactions between businesses, transactions between businesses and the final consumer and transactions with the Government. It is charge at a rate of 17%.

     

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