BASSETERRE, St. Kitts - JUST one week after the announcement that locals now have the opportunity to purchase and import building supplies free of duties and customer service charges, over 100 persons have already received approval to construct their own homes under the Buildings Materials Incentive Programme (BMIP).
This announcement was made by Prime Minister of St. Kitts and Nevis and Minister of Finance the Rt. Hon. Dr. Denzil Douglas during his weekly radio programme, ‘Ask the PM’.
"I wanted to share with you the fact that already some 100 persons have been approved and so the government’s campaign of expanded ownership for all continues moving forward just as we intended it to,” he said.
PM Douglas went on to declare that he has received compliments regarding the implementation of the Programme and was even asked to share details so that the same can be introduced to other countries.
In last week's airing of "Ask the PM", the Prime Minister announced the removal of all duties and customs service charges from up to EC$400 000 in private-home building supplies purchased by any citizen throughout all of 2012.
He then announced that this tax relief applies whether the building supplies are purchased locally or they are imported independently. Value Added Tax (VAT) is still payable.
Forms are available at the Ministry but can also be downloaded from the website of the Communications Unit of the Prime Minister (CUOPM) at www.cuopm.com.
Procedure for citizens to utilize the BMIP are as follows:
1. Obtain and complete the “APPLICATION FOR DUTY-FREE CONCESSIONS ON BUILDING MATERIALS”.
2. Submit the completed form to Theresa Morris at the Ministry of Finance. Items to be submitted with the application form:
a. A certified copy of the Commencement Certificate issued by the Development Control and Planning Board.
b. Your “Bill of Quantities” (list of the materials required for the construction, usually provided by your contractor)
3. Your application will take three to five working days to be processed by which time you will know whether your application has been approved. If your application is approved, you will receive a letter of approval and a copy will be sent to the Customs and Excise Department. The concession applies to building materials purchased locally or imported by successful applicants. Successful applicants present their letter of approval to local merchants for the exemption.
Citizens who have been approved to take advantage of the BMIP, and wish to have materials imported are encouraged to consult the Customs and Excise Department for further details related to importation and VAT.
Citizens who have been approved as well as those persons applying to benefit from the BMIP should have their submission made and all purchases or imports completed by December 31, 2012.
