VAT Registration underway in St. Kitts and Nevis

ZIZ News…Sept 10, 2010 – Registration for the Valued Added Tax is taking place at the Inland Revenue Department, upstairs the General Post Office, St. Kitts and at the Inland Revenue Department, Main Street, Charlestown.

According to the Tax Reform Unit (TRU), applications for VAT registration begun on Thursday September 9, 2010.

VAT Registration is required for businesses or individuals selling or supplying goods and/or services that generate gross sales in excess of $150,000 annually. Businesses or individuals providing professional services and persons involved in commercial and time-share property for lease that generate gross revenues in excess of $96,000 will also be required to register in order to charge and collect VAT.

An official at the Tax Reform Unit told ZIZ News, they have also commenced Advisory Visits to businesses and individuals already identified as potential registrants, at which time these businesses and individuals would be assisted in completing the Application for Registration.

The Value Added Tax is on schedule to be implemented in St. Kitts and Nevis on the November 1, following a series of public consultations and awareness meetings throughout the Federation of St. Kitts and Nevis.