Bill to allow corporation tax to be paid to Nevis Island Administration
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St. Kitts and Nevis Prime Minister Hon. Dr. Denzil Douglas (right) with Premier of Nevis Hon. Joseph W. Parry in Nevis (photo by Erasmus Williams) |
ST. KITTS, OCTOBER 23, 2010 (CUOPM) – A Bill going to the St. Kitts and Nevis National Assembly next Tuesday will allow the Nevis Reformation Party-led Nevis Island Administration (NIA) to collect corporate tax from companies or branches of companies which carry on business in the Island of Nevis.
St. Kitts and Nevis Prime Minister and Minister of Finance Hon. Dr. Denzil L. Douglas (St. Christopher 6-Labour) will pilot the Income Tax (Amendment) Bill, 2010 through all three stages of the sitting.
The legislation, which is expected to be unanimously approved, also makes provision for the tax when collected to be paid into the Consolidated Fund of the Nevis Island Administration for its use.
A new section, 80A, will be inserted to read “Companies carrying on business in Nevis to pay corporate tax to the Nevis Island Administration instead of the Federal Government.”