St. Kitts and Nevis extends Discounted VAT Rate Days for economic relief

The government of St. Kitts and Nevis was pleased to announce that a special initiative Discounted VAT Rate Days will be continued which aims to provide financial relief to the citizens. This will also boost economic activity amid the ongoing global inflation.

While announcing the continuation of this initiative, Prime Minister Dr. Terrance Drew outlined that by giving consumers and businesses more advance notice of the Discounted VAT Rate Days, the administration is making it easier for everyone to plan and benefit. He further noted that this initiative will not only support household budgets but will also stimulate the local economy.

According to the information, the government has allotted the following dates for Discounted VAT Rate Days for the rest of this year:

Back to School Discounted VAT Rate Days – Friday and Saturday, August 16 – 17 (vehicle sales will not be included) Christmas Discounted VAT Rate Days – Friday and Saturday, December 13 and 21 (vehicle sales will be included) It was further stated that as the government continues its comprehensive review of the tax regime, this significant initiative shows its commitment to foster a supportive economic environment and enhance the well being of its citizens and residents.

In addition to this, the government encouraged the businesses to participate actively in these Discounted VAT Rate Days while taking advantage of the opportunity to attract more customers and also contribute to the island nation’s economic recovery efforts.

Moreover, people can also take advantage of the temporary concessions on school supplies and air cooling devices from July 1 to September 30, 2024.

During this period, the air cooling devices will be exempt from Import Duty, VAT and CSC with the eligible air cooling devices being defined as Air conditioning units (including mobile) with a BTU strength of 24000 or less, fans (including standing, ceiling, wall mounted, table etc) and evaporative coolers.

Every year the citizens look forward to Discounted VAT Rate Days as they benefit highly and save their money on a wide range of eligible goods.