FOR IMMEDIATE RELEASE
BASSETERRE, ST. KITTS, APRIL 18th, 2023 – The Inland Revenue Department (IRD) is pleased to announce that April 28th, 2023 has been prescribed as Discounted VAT Rate Day.
This will allow all approved VAT-registered businesses to charge VAT at the rate of 5% on the sale of goods only. All tangible items subject to 17% VAT will qualify for the special rate on Discounted VAT Rate Day. Items eligible must also be available for sale and immediate issuance or delivery to the customer on the Discounted VAT Rate Day.
Orders for items not in stock do not qualify. Vehicles, guns, ammunition, cigarettes and alcoholic beverages are not eligible. Alcoholic beverages not eligible include but are not limited to Wine, Brandy, Vodka, Whiskey, Gin, Rum, Liqueurs, Beer, Guinness, Royal Stout, Carib, and Smirnoff Ice.
Businesses desirous of registering for Discounted VAT Rate Day must ensure that:
• All VAT return filings and/or payments are up to date;
• They have no outstanding taxes, licenses, penalties and/or interest due to the Inland Revenue Department and/or the Customs and Excise Department.
Businesses wishing to participate may access the application form via the Inland Revenue Department’s website at www.sknird.com or the IRD’s offices in Basseterre and Charlestown. The form must be returned on or before April 25th, 2023 at 4:00 pm. Businesses are encouraged to submit their application via email at inlandrevenue@ird.gov.kn.
Taxpayers are asked to contact the Inland Revenue Department for any additional information.
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.
