BASSETERRE, St. Kitts, October 29, 2021 (Press Unit in the Office of the Prime Minister) – Prime Minister and Minister of Finance, Dr. the Honourable Timothy Harris has said that his Government has no intention of introducing any new taxes when it presents its 2022 Budget later this year, notwithstanding the economic fallout the global COVID-19 pandemic has had on St. Kitts and Nevis.
“At this point, we are not contemplating new taxes. We would want to have more efficient collection of existing taxes and we would strive going forward to have higher compliance by all in paying their taxes on time,” Prime Minister Harris said in response to a question posed during his press conference on Thursday, October 28 at the NEMA Conference Room.
The prime minister stated that once persons and entities settle their respective payments then the Government would be in a much better fiscal position.
“We have substantial revenues of taxes in arrears and if those were paid up – those that are owed for example to the Customs, items released on bonds etc., those that are owed to the Inland Revenue, those that are owed to the Accountant General Department – we would be in an even stronger position. So once those who are due to pay, pay their taxes in a timely basis, we see at this time no need to increase taxes for 2022 but taxes always have to be reorganized for greater efficiency,” Dr. Harris added.
The Federal Cabinet recently wrapped up the 2022 Budget Estimates Committee Meetings with the relevant Line Ministries as part of the process to finalize the budget for the upcoming financial year.