BASSETERRE, St. Kitts, November 17th 2017 – The Inland Revenue Department (IRD) is pleased to announce that 15th December,2017 is the prescribed date for the Discounted VAT Rate Day.
This will allow all VAT registered businesses to charge VAT at the rate of 5% on the sale of goods only.vAll tangible items that are currently subject to 17% VAT will qualify for the discount on Discounted VAT Rate Day.
Items eligible must also be available for sale and immediate issuance or delivery to the customer on Discounted VAT Rate Day. Orders for items not in stock do not qualify.
Guns, ammunition, cigarettes and alcoholic beverages are not eligible. Alcoholic beverages not eligible include but are not limited to wine, brandy, vodka, whiskey, gin, rum, liqueurs, beer, guinness, royal stout, carib, and smirnoff ice.
For vehicle purchases, VAT will be exempt on the first $50,000.00 and VAT at the standard 17% will be charged thereafter.