Tax Advisory – Treatment of Concession Items on VAT Returns Filed

St. Kitts and Nevis Inland Revenue Department, Basseterre, St. Kitts, July 12, 2024: Instructions for Taxpayers on Filing VAT Returns during the concession period, or the tax periods of July, August and September 2024. As part of the recently announced concessions on school supplies and cooling equipment (not for commercial use), NO VAT will be charged on these items.

To ensure compliance and proper reporting, please follow these simplified instructions:

1. File as you normally would
   • Continue to file your VAT Returns by the prescribed deadline as you normally would.
   • All items not subject to the concessions will be reported as normal.
2. Report Sales of Concession Items
   • Report the sales of eligible school supplies and cooling equipment on the Zero-Rated Supplies line of your VAT Return.
3. Complete the Monthly Concession Sales Schedule
   • Complete the Monthly Concession Sales Schedule on the IRD’s prescribed form. This includes:
     • Item Description (grouped by published listing)
     • Quantity Sold
     • Value of Items
4. Submit the Sales Schedule
   • Attach the completed Sales Schedule to your monthly VAT Return if filed manually. If you are filing online, email a copy of the Monthly Concession Sales Schedule to the Inland Revenue Department at inlandrevenue@ird.gov.kn (St. Kitts) or ird@niagov.com (Nevis) by the filing deadline. When sending the email please ensure the subject line includes “Concession Monthly Sales Schedule” and your taxpayer identification number (TIN) to facilitate smooth processing.
5. Additional Information
   • Adhering to these simplified steps will ensure compliance within the VAT-free period on school supplies and cooling equipment. If you have any questions or require further assistance, please contact the Inland Revenue Department.

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 (St. Kitts) 869 469-5856 (Nevis)
Email: inlandrevenue@ird.gov.kn (St. Kitts); ird@niagov.com (Nevis)
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.