Lowtax Network

Back To Top

St Kitts And Nevis Told To Lock In Fiscal Gains

by Mike Godfrey, Lowtax.net, Washington
07 September, 2015

Saint Kitts and Nevis has received praise from the International Monetary Fund for improving tax revenue collections and posting a large fiscal surplus in 2014.

However, the IMF also cautioned authorities that recently introduced value-added tax (VAT) and customs duty exemptions could erode past gains unless the Government considers measures to offset the revenue impact of these tax breaks.

From April 7, 2015, the Government exempted food, medicine, and funeral expenses from VAT. Exemptions had already been in place for bread, flour, fuel, infant formula, disposable diapers, milk, oats, rice, and sugar, among other items.

The IMF recommended that the federation continue efforts to reform tax administration, review public spending, seek to limit tax incentives, and improve monitoring of public enterprises.

See all of today's news


News Archive

Event Listings

Listings for the leading worldwide conferences and events in accounting, investment, banking and finance, transfer pricing, corporate taxation and more...
See Event Listings »