BASSETERRE St. Kitts, December 23rd, 2011 -- The members of the St Kitts and Nevis Chamber of Industry and Commerce and indeed the whole business community are extremely pleased with the success of the first ever REDUCED VAT DAY held in the Federation on Thursday 22nd December 2011.
The Chamber takes this opportunity to thank the Right Honourable Prime Minister Dr. Denzil Douglas and his team from the Ministry of Finance for meeting with us at short notice and acceding to the request of the business community for a stimulus package which allows equal opportunity for all with the federation to participate on a level playing field.
The Chamber also congratulates the Officials of the VAT Office for speedily putting together all of the arrangements which have made the Reduced VAT day easily manageable and workable.
The Chamber is certain that 7% VAT collected on the tremendous uplift in sales during the 24 hour period would far exceed the VAT takings that would have occurred if all days were normal 17% VAT sales days.
Our survey indicates that Business Activity in Nevis was equal to, if not greater than it was around St Kitts, and the response of the consumers on both islands indeed reflects their approval of the joint incentives offered by Government and Businesses on that day.
Patrons were also treated to unexpected bonuses as some business houses, even though not registered to participate in the REDUCED VAT DAY, offered their own discounts.
The Chamber therefore wishes to thank all business houses for offering additional discounts and incentives which have helped to make the reduced VAT day most attractive to all customers.
The St Kitts and Nevis Chamber of Industry and Commerce takes this opportunity to wish all residents and visitors a Happy Christmas Season and a Prosperous New Year.
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