BASSETERRE, St. Kitts - FOLLOWING a meeting with the St. Kitts Chamber of Industry and Commerce last week, Minister of Finance Dr. Timothy Harris on Monday (Nov. 9) announced December 18 as the official VAT Reduced Day in the Federation.
That would be the one official day for shopping earmarked by Dr. Harris when he spoke on the Government’s Leadership Matters programme last month.
Under the reduced day, VAT will be charged at five percent rather than the usual 17 percent, which usually spurs a shopping frenzy on the islands.
In making the announcement on his official social media page, Prime Minister Harris explained that it is being done to stimulate economic activity in the Federation, “and at the same time ease the financial burden of consumers”.
Dr. Harris, on a recent edition of the Government’s Leadership Matters programme announced that the usual concessions would be in place, including no VAT on the first $50,000 per vehicle.
A number of private sector entities met with Dr. Harris and other Cabinet members on Friday, last, to discuss the way forward for more economic activities.
