The 1st of two (2) Discounted VAT Rate Days (DVRD’s) here in St. Kitts & Nevis, is tomorrow Dec. 13th.
Initially, the dates for the annual DVRD days were Dec. 14th and Saturday Dec. 21st.
However, according to a release from the Government, upon further consideration, the Cabinet agreed after taking into account the beliefs and traditions of the devout and diverse religious community in St. Kitts and Nevis, that the first of the two announced DVR dates be changed to Friday Dec. 13th. The 2nd date, Saturday Dec. 21st , remains the same.
The annual DVRD’s allow all VAT registered businesses to charge VAT at the rate of 5 percent on the sale of goods only. All tangible items that are presently subject to 17 percent VAT will qualify for the discount VAT Rate. For vehicle purchases, VAT will be exempt on the first EC$50,000, with VAT at the standard 17 percent charged thereafter.
Salaries and other remunerations will also be paid by the Government on Friday Dec. 13th.