BASSETERRE, St. Kitts – AS promised by Prime Minister and Minister of Finance, the Right Hon. Dr. Denzil L. Douglas, citizens and residents of St. Christopher and Nevis can expect the imposition of no new taxes for 2012.
“The government, I want to emphasise, will not impose any new taxes on our people; no new tax is expected to be imposed. In fact, I am just coming from a meeting with a team that has come in to assist us in preparation of the budget for 2012 and we are looking at how we can enhance our revenue through revisiting administrative measures that are in place to collect revenue.
“…The revenue from tobacco, alcohol, etc. that was expected to yield a particular amount, it’s down. Why? We need to look and see how we can seriously implement measures to enhance revenue in these particular areas that appear to be down. But in terms of introducing any new taxes etc., we don’t intend to do that at all,” Dr. Douglas told members of the local media fraternity yesterday (Nov. 30) during his monthly press conference.
The Finance Minister explained that calls would be made for the imposition of new taxes but promised that they would go unheeded.
“I know that there will be calls for us to do it, but we as a Cabinet will not be able to do that. In fact, we are looking at how we can enhance our people and their ability to shop, to acquire the necessary products or goods that you would shop for at Christmas, especially those who are getting barrels from overseas, how we can facilitate that, making easier and less costly for our people.”
Notwithstanding, the possibility exists that the rate of existing taxes can be increased although Dr. Douglas has indicated that he does not anticipate Cabinet agreeing to any increase.
“I don’t think we want to do that either…I really would not want to do that. I am one person and there is a Cabinet, but one thing we’ve discussed in the Cabinet on Monday is that we will not introduce any new tax. You asked about increasing any present tax, I would not want to do it…I don’t expect that the Cabinet will agree on any increases in taxes. I don’t expect it.”
Approximately one year ago, a new system of taxation was implemented in St. Kitts-Nevis, Value Added Tax (VAT), at a rate of 17 percent. The new tax regime was said to have been implemented to assist the government in collecting revenue.
