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"

......................................................

 

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.

......................................................

 

Liquor Licence

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

......................................................

 

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.

......................................................

 

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.

......................................................

 

A BRIEF HISTORY

On 31st August 2006, The Property Tax Act was passed. This replaced The Land and House Tax Act (CAP 251) which was passed in 1906. This 1906 Act stated that property was to be valued using the Annual Rental Value method and allowed for two payments, in April and October at a rate of five percent (5%). This method was difficult to understand and somewhat confusing to taxpayers.

The new act changes the valuation method to the Market Value Method. This method values property by what it would fetch in the current market if the transaction was conducted between a willing buyer and seller. This method values property without bias or favor. The tax is now payable in a single payment due on or before the 30th June in each year. Each year a demand notice (bill) is sent to property owners and must be paid before the due date to avoid interest charges.

This Act came into force on the 1st day of January 2007. All properties in Saint Christopher and Nevis are now valued using this method. Saint Christopher and Nevis Property Tax Act 2006 (No. 13 of 2006) is a link to the Property Tax Act 2006.

TIPS
  • Payment of outstanding taxes and annual filings of financial statements, including tax returns, are due 3 ½ months following the end of the financial year of every company.