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Posted: Saturday 21 October, 2017 at 8:58 AM

Government, CIC mull over VAT Free Day

By: Staff Reporter, SKNVibes.com

    BASSETERRE, St. Kitts – MEMBERS of the Federal Cabinet met with representatives of the St. Kitts-Nevis Chamber of Industry and Commerce last week to discuss which day in December would be most appropriate for the usual Discounted VAT Rate Day.

     

    According to a government release with regards to two recent Post-Cabinet Briefings, resultant of the meeting with the CIC on Wednesday (Oct. 11), Government had decided that the Federation would have the usual Discounted VAT Rate Day in December, but they had not arrived at a date.

    In addition to the Discounted Vat Rate Day, the release stated that a decision was taken to provide citizens and residents a one-month duty and tax concession on foodstuff during the festive season.

    “The Cabinet decided on October 11ththat, from December 1st to December 31st, 2017, packages of foodstuff would be allowed free of duty and taxes for the first four hundred pounds (400 lbs.).  Gift packages and the passenger allowance up to a threshold valued at two hundred US dollars (USD$200.00) would also be allowed free of duty and taxes.”

    Given their potential to spur economic growth and job creation, Cabinet also approved concessions for several hotel projects in the Federation.






     
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