PM Douglas appeals to nationals to benefit from Building Materials Investment Programme
Homes in the Bird Rock/Suncrest areas of St. Kitts (Photo by Erasmus Williams)
BASSETERRE, ST. KITTS, JANUARY 10TH 2012 (CUOPM) – St. Kitts and Nevis’ Prime Minister the Rt. Hon. Dr. Denzil L. Douglas has appealed to nationals of the twin-island Federation to benefit from the Building Materials Investment Programme first unveiled in 2011.
“In order to both stimulate the economy as well as expand our unprecedented programme of home-ownership, we have unveiled a Building Materials Investment Program specifically to aid those who are interested home-building. And what this will do is remove all duties and customs service charges from up to EC$400,000 in private-home building supplies, purchased by any citizen, throughout all of 2012,” said Prime Minister Douglas during his first radio programme “Ask the Prime Minister” for 2012.
Dr. Douglas, who is also Minister of Finance, reminded listeners that duties can range from 5 to 25%, and customs service charges from 6 to12%, so the potential savings can be considerable.
“And this tax relief applies whether the building supplies are purchased locally, or they are imported independently,” said Prime Minister Douglas, who reminded the general public and listeners that the Building Materials Investment Programme is an initiative of the Ministry of Finance.
He said applications must be submitted to that Ministry. The required forms can be downloaded from the website of the Communications Unit of the Prime Minister (CUOPM) at www.cuopm.com.
Forms which are also available at the Ministry of Finance can be completed and returned to the Ministry of Finance to the attention of Ms. Theresa Morris.