BASSETERRE, ST. KITTS, NOVEMBER 23rd 2018 (Inland Revenue Department) – The Inland Revenue Department (IRD) is pleased to announce that Friday 14th and Thursday 20th December, 2018 are the prescribed dates for the Discounted VAT Rate Days.
This will allow all approved VAT registered businesses to charge VAT at the rate of 5% on the sale of goods only. All tangible items that are currently subject to 17% VAT will qualify for the discount on Discounted VAT Rate Day. Items eligible must also be available for sale and immediate issuance or delivery to the customer on Discounted VAT Rate Days.
Orders for items not in stock do not qualify. Guns, ammunition, cigarettes and alcoholic beverages are not eligible. Alcoholic beverages not eligible include but are not limited to Wine, Brandy, Vodka, Whiskey, Gin, Rum, Liqueurs, Beer, Guinness, Royal Stout, Carib, and Smirnoff Ice. For vehicle purchases, VAT will be exempt on the first $50,000.00 and VAT at the standard rate of 17% will be charged thereafter.
Businesses desirous of registering for Discounted VAT Rate Day must ensure that:
- They have filed all their VAT returns
- Have no outstanding taxes, licenses, penalties and/or interest due to the Inland Revenue
Department and/or the Customs & Excise Department.
Application forms can be collected from the Inland Revenue Department’s Office on the Bay Road, St.Kitts and the Charlestown Office in Nevis and must be returned on or before December 6th 2017 at 3pm. NB: All businesses that submit an application form will be notified of their status in writing.
For more information concerning the Discounted VAT Rate Days, kindly contact the Inland Revenue Department, Taxpayer Services Unit at 465-8485 ext 3400/3401/3409 or email us at inlandrevnue@sknird.com, visit our website at www.sknird.com or our Facebook page at wwww.Facebook.com/St.KittsandNevisInlandRevenueDepartment.
The Inland Revenue Department is charged with administering the tax laws of the Federation in an efficient and equitable manner, to promote voluntary compliance to maximize Revenue for the development of the Federation at the least cost to the public and in a manner that warrants the highest degree of Public confidence in our integrity, efficiency and fairness. The Inland Revenue Department is the prime revenue collections agency for the Government of St. Kitts and Nevis within the Ministry of Finance, located at Bay Road, Basseterre, and Charlestown, St. Kitts and Nevis, West Indies.
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