Reminders

"The Inland Revenue Department is requesting all taxpayers whose personal information is obsolete, to kindly visit the office at their earliest convenience to facilitate updates"

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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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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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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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THE VALUATION OF PROPERTY

Based on the information collected, the Inland Revenue officers will determine the value of your property. This is done using a formula, which is influenced by property sales in the same area. There may be other unique factors that influence the value. The value determined is the Market Value.

If the property is unique, that means there are no other similar properties that exist on the area or island, hence no sales data, then the department will use the Replacement Cost Approach. This is the cost to replace the property minus any depreciation. When the valuation is complete, the Department will issue a Certificate of Value (COV which will contain the specifics of the property, and the value on which the tax will be determined.

Periodically, property values will change as the market changes. The Inland Revenue Department will notify the owner of the revaluation. Officers from the Department may visit the property, to update the property information so the new value is based on the most accurate data. The owner will be sent a new COV stating the new value. The last revaluation was done in 2007.

TIPS
  • The Inland Revenue Department accepts Cash, Personal and Manager’s Cheques, Bank Drafts and Postal Money as forms of payment.  Standing Orders may also be arranged. Taxpayers are asked to note that dishonoured cheques attract a fee of EC$146.60.