BASSETERRE, St. Kitts – FOLLOWING the announcement that the government of St. Kitts and Nevis has named two reduced-VAT days (December 12 and 19) for yet another year, the St. Kitts and Nevis Chamber of Industry and Commerce (CIC) has indicated that it is “working on” the possibility of having a third day.
Recently, the CIC’s President, Damion Hobson told the media that the Chamber feels happy that measures are being taken by the government in bringing relief to the people of the country through the elimination of Value Added Tax (VAT) from certain food and other items.
Hobson also spoke of the reduced-VAT days and explained that the CIC was hoping for an additional day.
He explained that it would be difficult for customers to leave their places of employment at the end of the day and still have enough time to get to the various supermarkets, stores etc. and take full advantage of the deals.
He suggested that a Saturday be added to the reduced-VAT days.
“We wanted three, we got two. I think there is still time for us to work on the third day. We think that the Fridays are a little difficult because when you finish working at 5:00 p.m., to get to the supermarket, to get to the TDCs and the Horsfords is very difficult. So by giving a Saturday it helps the community.”
Asked specifically if the CIC is in consultation with the government on the possibility of having an additional third reduced-VAT day, Hobson said, “We are working on it.”
On December 12 and 19, 2014, customers shopping at businesses registered for the exemption would enjoy a reduction of the 17 percent VAT and would only be required to pay five percent on the items they purchase.
This is the fourth year that reduced-VAT days have been observed in the Federation since the VAT was implemented in 2010.
