St. Kitts and Nevis' reduced VAT Rate Day draws huge crowd of shoppers

St. Kitts and Nevis: The citizens and residents across St. Kitts and Nevis, on Friday, took advantage of the huge saving opportunities on the reduced VAT Rate Day. This was the first reduced VAT Day for this year, and it was announced by the government to mark the occasion of Easter.

According to the information, the citizens were seen exploring their favourite shops in the Federation to benefit from the special 5 percent VAT rate on a huge array of eligible goods, which were discounted from the standard VAT Rate of 17 percent.

This significant initiative showcases the utmost dedication and commitment of the St. Kitts and Nevis Government to bring a major relief to the people of the Federation amid the Easter season.

Also, several businesses across the island announced additional offers and discounts to attract more customers towards them. The offers included storewide discounts, buy 1 get one free item and much more.

Some stores, such as Courts St. Kitts and Nevis, also offered a huge discount of 25% on selected items, giving citizens the benefit of purchasing new televisions, refrigerators, washing machines and other household items at a much cheaper rate than usual.

It is to be noted that on reduced VAT Rate Day, all businesses registered under VAT charged it at the rate of 5% on the sale of goods only. All tangible items which are usually subjected to 17% VAT qualified for the discount yesterday.

Since 6 am on Friday, hundreds of patrons were seen throughout the day, especially in Basseterre and Charlestown, taking advantage of the reduced prices. People were also seen carrying huge bags of products that they purchased at discounted rates.

[caption id="attachment_70410" align="aligncenter" width="402"] Shoppers taking full advantage of the reduced VAT Rate Day (PC - Facebook of SKNIS)[/caption] While announcing this Easter discounted VAT rate Day, Prime Minister Dr. Terrance Drew said this initiative is aimed at providing financial relief to the residents as well as stimulating economic activity during the Easter Season.

The huge response of the general public has made this initiative a huge success and has turned out to be a win win situation for both consumers and sellers.