By Devonne Cornelius
St. Kitts and Nevis (WINN) – On Monday, November 09, 2020, Prime Minister Dr. Timothy Harris announced via his Facebook page that “VAT Day 2020 will be on Friday, December 18th”.
This announcement comes after consultation with the St. Kitts and Nevis Chamber of Industry and Commerce to finalize logistics for the reduced VAT day.
The Prime Minister said, as is the norm, 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.
Prime Minister Harris further stated that the usual concessions on imports are available for the busy Christmas season ahead.
Dr. Harris who also heads the Ministry of Finance said that the government had agreed to one reduced VAT day for 2020, on his October 20 edition of Leadership Matters.
“There are other initiatives which the government and the cabinet yesterday, (Oct. 19, 2020) in fact agreed to, to assist persons in having a better December than would otherwise be,” the Finance Minister said.