By Devonne Cornelius
St. Kitts and Nevis (WINN) — There will be two Reduced VAT Days for December 2020, so says Prime Minister and Minister of Finance, the Hon. Dr. Timothy Harris.
Dr. Harris was at the time speaking on his weekly Leadership Matters program on Tuesday, November 10, 2020, when he made the announcement.
“The Government, based on representation and consultation with the Chamber [of Industry and Commerce], on Monday [Nov. 09], that we would extend VAT day which was originally carded for Friday, 18th December by another day to Saturday, December 19th.”
The Finance Minister further indicated that he hopes this would in turn stimulate economic activity by assisting the small businesses with improved sales, adding that the second day was also approved to alleviate overcrowding within business places while at the same time adhering to the COVID-19 social distancing protocol.
VAT payable on goods would be reduced to five percent covering a range of items. Regarding vehicles, the full VAT rate will be applied to any amount after the first $50,000. The usual concessions will be available for the busy Christmas season approaching.