St Kitts And Nevis To Lower VAT On December 18
by Mike Godfrey, Lowtax.net, Washington
11 December, 2015
Caribbean territory Saint Kitts and Nevis will slash its value-added tax (VAT) rate to five percent on December 18, for a single day, as a concession for consumers during the holiday period.
The reduced rate will apply to all tangible items that are currently subject to the 17 percent VAT rate, provided they are available for sale and immediately received by the consumer on that day. Guns, ammunition, cigarettes, and alcoholic beverages are not eligible.
In addition, those purchasing vehicles will be exempt from VAT on the first XCD75,000 (USD27,777) of its value. The remainder will be subject to the 17 percent rate.
Only those companies that are compliant with their tax affairs and have registered to take part may charge the concessionary rate on December 18.
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