Reminders

The Due Date for Payment of Property Tax 2020 has been extended to September 30, 2020, as per the initiative outlined in the COVID-19 Stimulus Package 2020"

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The Automatic Exchange of Information (AEOI) Competent Authority for the Federation of Saint Kitts and Nevis has revised the filing deadline for FATCA and CRS reporting

The Saint Kitts and Nevis AEOI Competent Authority wishes to advise the Financial Institutions that it is now extending its FATCA reporting deadline for the 2019 reporting period to 30th November 2020.
The Saint Kitts and Nevis AEOI Competent Authority is also extending its CRS reporting deadline for the 2020 reporting period to 30th November 2020.

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Liquor Licence

The St.Kitts and Nevis Government has suspended all Liquor Licence renewals until further notice.

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Liquor Licence

All Liquor Licence renewals start at the Sir Lee Llewelyn Moore Judicial Complex (Court's Cashier.) The stub given there, should be presented to the Inland Revenue Department in order to process the Licence.

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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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HOW IS PROPERTY TAX CALCULATED

You can calculate your tax using the appropriate formula below. All of this information will be contained in your Certificate of Value (COV) issued by the Inland Revenue Department.

RESIDENTIAL PROPERTY:

(Property Value - 80,000) x .002 = Tax Payable

COMMERCIAL PROPERTY:

Property Value x .003 = Tax Payable

ACCOMMODATION PROPERTY:

Property Value x .003 = Tax Payable

EXAMPLE: CALCULATION OF PROPERTY TAX

Example of the calculation of tax on residential property in St. Kitts, with a market value of $140,000.00
(Building Value 120,000.00 and Land Value $20,000.00).

LAND VALUE
                                                                
     20,000.00  
TAX ON LAND (20,000 x 0.002)               40.00
BUILDING VALUE                    120,000.00  
SUBTRACT THE EXEMPTION    (80,000.00)  

TAXABLE BUILDING VALUE (120,000 - 80,000)   
40,000.00  
 
TAX ON BUILDING (40,000 x 0.002)   
         80.00
TOTAL TAX DUE (80.00 + 40.00)              120.00

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.