BASSETERRE, St. Kitts (SKNIS) – The Federal Cabinet of the Government of St. Kitts and Nevis has designated two days this month, Friday, August 25, and Saturday, August 26, as the ‘Back-to-School’ Discounted VAT Rate Days in the Federation.
On these two days, all Value Added Tax (VAT) registered businesses will charge VAT at the rate of 5% on the sale of goods only.
All tangible items that are currently subject to 17% VAT will qualify for the discount on the VAT Rate Days.
Items eligible must also be available for sale and immediate issuance or delivery to the customer on Discounted VAT Rate Days.
In addition, the Federal Cabinet decided that the same guidelines implemented on the December Discounted VAT Rate Days should be applied to this month’s exercise.
This means that the purchase of vehicles will be subject to the Discounted VAT Rate on August 25th and 26th.