BASSETERRE, St. Kitts - DESPITE the economic challenges facing St. Kitts and Nevis during the COVID-19 pandemic, Cabinet has agreed to one VAT Reduce Day for 2020.
Announcement of the initiative was made by Prime Minister Dr. Timothy Harris on the Government’s Leadership Matters programme last evening (Oct. 20).
Though stopping short of announcing the exact date, Dr. Harris disclosed that, as is the norm, the VAT payable on goods would be reduced to five percent covering a range of items.
With regards to vehicles, the full VAT rate will be applied to any amount after the first $50,000.
“There are other initiatives which the Government and the Cabinet yesterday (Oct. 19) in fact agreed to, to assist persons in having a better December than would otherwise be,” Dr. Harris said.
Meanwhile, Dr. Harris reminded that the usual concessions on imports, that would be, are now available for the upcoming busy Christmas shopping period.
