BASSETERRE, ST. KITTS, DECEMBER 1st, 2023 – Shoppers and businesses in St. Kitts and Nevis have something exciting to look forward to this December, as the Discounted Value Added Tax (VAT) Rate Days are making a triumphant return on December 15 and 16, 2023. This unique event, marking the grand finale of the promised three VAT Discounted Days for 2023, will empower approved VAT-registered businesses to provide their customers with a reduced VAT rate of 5% on eligible goods.
During this two-day shopping extravaganza, customers can take advantage of a special 5% VAT rate on a wide range of eligible goods, previously subject to the standard 17% VAT rate. This offer is exclusively applicable to tangible items that can be immediately issued or delivered during the Discounted VAT Rate Days. It’s worth noting that VAT will be exempt on the first $50,000 of vehicle costs, except in cases where a duty-free concession applies, and 17% on the amount in excess of 50,000. This presents the perfect opportunity to make significant savings on purchases that were previously subject to a higher VAT rate.
Keep in mind that only in-stock items qualify for the Discounted VAT Rate, so any orders for items not readily available will not be eligible for this special pricing. To ensure customer safety and well-being, certain items, including guns, ammunition, cigarettes, and alcoholic beverages, are excluded from this promotion.
When it comes to alcoholic beverages, specific products like Wine, Brandy, Vodka, Whiskey, Gin, Rum, Liqueurs, Beer, Guinness, Royal Stout, Carib, and Smirnoff Ice will not be eligible for the reduced VAT rate. However, a wide array of other exciting products will still be available at the exclusive 5% VAT rate, allowing customers to enjoy significant savings.
Don’t miss out on this fantastic opportunity to save on your favorite items. Make sure to mark your calendars for December 15 and 16, 2023, and experience the joy of acquiring high-quality products at significantly reduced prices.
Businesses interested in participating in this event can access the application form via the Inland Revenue Department’s website at www.sknird.com or visit the IRD’s offices in Basseterre and Charlestown. To ensure you can take part, please return the application form by 4:00 pm on or before December 11th, 2023. Alternatively, you can conveniently submit your application via email at inlandrevenue@ird.gov.kn.
For the latest updates and additional information regarding the Discounted VAT Rate Days, please visit www.sknird.com or get in touch with the Inland Revenue Department directly.
The Inland Revenue Department, Building our Nation Through Responsible Tax Administration
St. Kitts and Nevis Inland Revenue Department, Bay Road, Basseterre, St. Kitts
Tel: (869) 465-8485, Exts: 3402/3410
Email: inlandrevenue@ird.gov.kn
Website: www.sknird.com
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The Inland Revenue Department is charged with administering the tax laws of the Federation in an efficient and equitable manner, to promote voluntary compliance to maximize Revenue for the development of the Federation at the least cost to the public and in a manner that warrants the highest degree of Public confidence in our integrity, efficiency and fairness. The Inland Revenue Department is the prime revenue collections agency for the Government of St. Kitts and Nevis within the Ministry of Finance, located at Bay Road, Basseterre, and Charlestown, St. Kitts and Nevis, West Indies.