BASSETERRE, ST. KITTS, DECEMBER 01, 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. Vehicles will be charged 17% on the amount over $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 11, 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.
