BASSETERRE, St. Kitts, November 10, 2021 (Press Unit in the Office of the Prime Minister) – Prime Minister and Minister of Finance, Dr. the Honourable Timothy Harris has commended the executive of the St. Kitts and Nevis Chamber of Industry and Commerce for its wholehearted support of the two Discounted VAT Rate Days in December this year.
At Wednesday’s Sitting of the National Assembly, Prime Minister Harris stated that Thursday, December 16 and Saturday, December 18 have been designated as the two Discounted VAT Rate Days across the Federation.
In making the announcement, the Honourable prime minister thanked the staff of the Ministry of Finance for its tireless work in ensuring citizens and residents can benefit from the five percent value-added tax on the sale of goods on the two designated days.
Prime Minister Harris stated further, “I want to commend…the Chamber for their collaboration and cooperation on a significant initiative that the Government has taken under very difficult times to reduce VAT from a high of 17 percent to a low of five (5) percent on merchandise. The direct intention there was to ensure that at this time food and other merchandise are made affordable to the largest number of persons, and by bringing forward the payment of salaries, wages and other benefits we ensure again that more people can take advantage of what should be lower prices.”
Dr. Harris also used his presentation to the National Assembly to strongly encourage the membership of the Chamber of Industry and Commerce and the wider business community to provide their customers with special bargains and discounts “not only on the two VAT discount days but for the rest of December so our people can have a more enjoyable Christmas.”
In addition to the VAT Rate Days, the Government has also consented to several concessions: non-commercial importation of foodstuff up to 500lbs in weight will be allowed free of duty and taxes and individuals travelling in December will be eligible to receive duty and tax concessions on goods brought in up to a value of EC$540 (US$200).
“All these are efforts of the Government to ensure that our recovery can be speedier and that we give the economy the necessary impetus so that we can move more quickly out of the shadow of COVID-19,” said Prime Minister Harris.