Tweet

IMMEDIATE RELEASE BASSETERRE, ST. KITTS, APRIL 17, 2023 – The Inland Revenue Department (IRD) is pleased to announce that April 21, 2023, has been prescribed as Discounted VAT Rate Day. This will allow all approved VAT-registered businesses to charge VAT at the rate of 5% on the sale of goods only. All tangible items 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 the Discounted VAT Rate Day. Orders for items not in stock do not qualify. Vehicles, 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. Businesses desirous of registering for Discounted VAT Rate Day must ensure that: • All VAT return filings and/or payments are up to date;• They have no outstanding taxes, licenses, penalties and/or interest due to the Inland Revenue Department and/or the Customs and Excise Department. Businesses wishing to participate may access the application form via the Inland Revenue Department’s website at www.sknird.com and the IRD’s offices in Basseterre and Charlestown. This Form must be returned on or before April 19, 2023, at 4:00 pm. Businesses are encouraged to submit their application via email at inlandrevenue@ird.gov.kn. Taxpayers are asked to contact the Inland Revenue Department for any additional information.