(ZIZ News) — Consumers across St. Kitts and Nevis will enjoy a 12 percent reduction in the Value Added Tax, or VAT, on two days this month; December 12th and 19th.
Prime Minister, the Rt. Hon. Dr. Denzil Douglas, said this is being done, as it has become customary since the introduction of VAT, to assist shoppers during the holiday season.
“It is also true however, that in recent years because the Christmas season is a season where individuals spend more than they normally would, the government has authorized dramatic reductions in our country’s VAT rate on specially designated days. This year, the government will be maintaining that tradition and so, on Friday December the 12th and again on Friday December the 19ththe VAT in St. Kitts and Nevis will be reduced to five percent,” he said.
Dr. Douglas noted that these VAT reduction days are looked forward to, not only by consumers, but business owners as well.
“Over the years, the public and businesses alike have enthusiastically welcomed these VAT reduced days. Since these days 1) resulted in savings for the public, and 2) allowed businesses to generate more revenue than they otherwise would have and in light of this, I wanted to share the decision that the Cabinet had taken just yesterday regarding the VAT and Christmas as early as possible,” he said.