by Eulana Weekes
St. Kitts and Nevis (WINN): The Ministry of Economic Development and Investment launched a Value Added Tax Assessment (VAT) Household Survey for residents of St. Kitts and Nevis.
The survey aims to assess the impact of the VAT reduction programme (17% to 13%) on households across the federation.
The survey focuses on how the VAT reduction impacts one’s purchasing power, the general household budget and the economy, assesses whether there were instances when VAT was not applied to purchases, and also elicits consumers’ preferences on the continuation or discontinuation of the VAT reduction.
The Government of St. Kitts and Nevis announced a reduction in the standard Value-Added Tax (VAT) rate from 17% to 13% for the first half of 2025. The groundbreaking initiative, dubbed the VAT Relief Holiday, took effect on January 1, 2025.
The VAT Relief Holiday, alongside the highly attractive, ‘first of its kind’ financial assistance programme, known as the Budget Boost Wallet, was launched to alleviate financial pressures on consumers, support local businesses and stimulate economic stability.
Now, in the sixth month of the year, the VAT Relief Holiday, like the Budget Boost Wallet, will be paid out for the final time in its inaugural season, according to the initial notice released by the Government of St. Kitts and Nevis.
The Value Added Tax was first introduced almost 15 years ago on November 01, 2010.
