Reminders

Taxpayers are reminded that property tax is due and payable each year, on or before June 30th.

NB All property bills with arrears, must first be queried at the Customer Service Section, before payment is made. Property bills without arrears should be taken directly to the Cashier Section for payment.

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Vehicle

All vehicle owners whose licence plate ends with 1, must renew their vehicle licence before January 31st. Similarly, if your vehicle licence plate ends with 2, you must renew your vehicle licence before February 29th to avoid interest charges and ticketing fees..

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All insurance companies are reminded that a statement showing the number of policies issued, the value of every policy and any other information required by the Accountant General must accompany the registration fee remittance and the insurance premium remittance. The forms can be found under Form & Guides tab then click on Tax Returns.

 

FATCA

The Foreign Account Tax Compliance Act (FATCA) which is part of the Hiring Incentives to Restore Employment Act, was passed by the United States (US) Congress on 18 March 2010. It was enacted to combat tax evasion by United States taxpayers holding assets in non- U.S financial accounts / institutions. FATCA requires Foreign Financial Institutions (FFIs) to report to the United States Internal Revenue Service (IRS) information on account and other financial assets held by U.S taxpayers, or by foreign entities in which U.S taxpayers hold substantial (greater than 10%) ownership interest.

The Government of St. Kitts and Nevis has made the commitment to enter into an Intergovernmental Agreement (IGA) which will allow for the Financial Institutions within the Federation that have registered with the IRS for FATCA purposes, to comply with the reporting requirements of FATCA.

Financial Institutions are obligated to report the required information annually or upon request by the United States Internal Revenue Service (IRS). Failure to comply may result in the imposition of penalties.

Click here  for more information published by the United States Internal Revenue Service (IRS)

TIPS
  • Taxable entities and individuals are reminded that all documents are to be kept for a period of 6 years. Approval must be granted by the Comptroller for earlier disposal of the same.