St Kitts And Nevis Welcomes Record Tax Receipts
by Mike Godfrey, Lowtax.net, Washington
16 December, 2015
The St Kitts and Nevis Inland Revenue Department has announced revenue collections totaling XCD219.3m for the first 11 months of the year - a record figure for the Federation.
The jurisdiction's Prime Minister and Minister of Finance, Timothy Harris, stated that the improved returns were as a result of higher-than-expected revenues from corporate income tax, condominium tax, stamp duty, unincorporated business tax, and withholding tax.
The increases seen in these receipts offset a drop in value-added tax (VAT) revenue, which occurred due to the removal of VAT on food, medical supplies, education supplies, and funerals from April 2015.
Harris also praised "greater compliance activities" from the IRD as being a significant contributing factor to the record revenues.
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