Chamber wants VAT pushed back
ZIZ Newsroom…Basseterre, St Kitts (July 15, 2010) – The business community has serious concerns about the effects of the Value Added Tax and is asking Prime Minister Douglas to push it back to 2011.
The Chamber of Industry and Commerce’s president, Michael Morton, says they are concerned that the VAT rate of 17%, will increase the cost of living in St Kitts and Nevis.
The Chamber said in a statement that the businesses and citizens need more time to prepare for the new system.
The VAT is also criticized by the opposition People’s Action Movement.
PAM’s leader Lindsay Grant says it should not be charged on food.
Government is looking to introduce VAT November 1.