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St. Kitts and Nevis Information
St Kitts to Add Hotel, Sales Tax
2010-07-16 18:39:35 by
The federation of St. Kitts and Nevis is planning a new 17% sales tax and a 10 hotel levy to boost revenue. They are in transition, trying to replace sugar as the main source of income and find other sustainable sources for their infrastructure requirements.
Prime Minister Denzil Douglas said Thursday that the tourism-dependent islands of 50,000 people will roll out the new tax scheme in November. Some medications, bus transportation, locally-grown produce, milk, baby formula and other good and services will be exempt. Small business owners with annual revenues of less than $56,000 will not be required to collect the sales tax.
These taxes are part of the Labour Party's value-added tax overhaul. Jamaica, Barbados and Trinidad and Tobago have had a value-added tax for years. Dominica and Guyana introduced theirs in early 2006 and Antigua and Barbuda followed in 2007.
Prime Minister Denzil Douglas said Thursday that the tourism-dependent islands of 50,000 people will roll out the new tax scheme in November. Some medications, bus transportation, locally-grown produce, milk, baby formula and other good and services will be exempt. Small business owners with annual revenues of less than $56,000 will not be required to collect the sales tax.
These taxes are part of the Labour Party's value-added tax overhaul. Jamaica, Barbados and Trinidad and Tobago have had a value-added tax for years. Dominica and Guyana introduced theirs in early 2006 and Antigua and Barbuda followed in 2007.