Country Rankings - Saint Kitts and Nevis
Nov 16, 2015 Saint Kitts and Nevis: warmFinally, as we approach the season of goodwill, here's a little heart-warming story from the sun-kissed shores of the Caribbean. Not so long ago, the twin-island federation of St Kitts and Nevis was on its uppers after its public debt soared to the third highest in the world as a percentage of gross domestic product. After going through a painful fiscal restructuring program backed by the IMF, the territory appears to be back on its feet, although somewhat fragile. Yet, it has still managed to provide the populace with a temporary cut in value-added tax in the run up to Christmas. Admittedly, this year's VAT gift will only be for one day as opposed to the usual two. But can you imagine any of the big countries offering such a gesture to their overtaxed citizens? Neither can I.