BASSETERRE, St. Kitts – ABOUT one month after Cabinet approved duty free concessions to local standalone restaurants, the St. Kitts Investment Promotion Agency (SKIPA) has announced today (June 2) that application is open to eligible institutions seeking to benefit from the new concession scheme.
After considering recommendations made by the St. Kitts-Nevis Hotel and Tourism Association (HTA), the Cabinet approved a stimulus package for full service standalone restaurants in which qualifying institutions would be granted duty-free concessions for a period of 12 months. Eligible restaurants would benefit from a 100 percent waiver on import duty and consumption tax and a 12 percent Customs Service Charge will become payable on selected items.
The new policy adopted by the Cabinet will allow qualifying restaurants duty free importation of food, wine, kitchenware and appliances and furniture, and is primarily designed to allow such restaurants to stay afloat in the face of challenging economic times.
SKIPA Market Research Officer Darien Belle explained to SKNVibes the criteria for restaurants to access the concessions. He made it clear that restaurants in question must have a valid business license and must be up to date with nine percent restaurant tax and Social Security payments. The company must have at least 75 percent local work force and all employees must have a Food Handler’s License.
He added that restaurants must offer full service of food, drinks and wine; accept credit cards; must be suitably qualified; be willing to accept training attachments of students from Clarence Fitzroy Bryant College (CFBC); and help to market St. Kitts and Nevis as a tourist destination.
The criteria however indicated that the restaurant must be housed in a proper building with bathroom and garbage disposal facilities, therefore excluding beach bars from accessing the concessions.
“It is important that standalone restaurants apply for concessions as there is definitely an economic downturn in the global economy which would decrease direct markets as the tourism sector is susceptible to external economic conditions,” Belle said.
The SKIPA representative informed that the concessions came because the HTA was “looking out for its members”, and added that the current economic conditions compounded the need to support standalone restaurants.
“Qualifying restaurants would definitely gain the opportunity to refurbish their buildings, improvement equipment used to prepare food, extend their menus and ensure that they work closely with schools in terms of providing training and keeping people employed,” Belle added.
Along with meeting the criteria of a “Full Service-Stand Alone Restaurant”, each qualifying business will be required to submit a monthly Statistics form that records employment figures and the quantity of local produce purchased by the restaurant.
Interested persons are asked to apply by completing an application form that can be found on the SKIPA website www.stkittsip.org “Applicable Forms” or calling 465 1153 for more information.
