2nd DVRD day slated for Saturday Dec. 21st

2nd DVRD day slated for Saturday Dec. 21st

The 2nd Discounted VAT Rate Day (DVRD) here in St. Kitts & Nevis, is slated for Saturday Dec. 21st.

 

The 1st DVRD for 2019 was held last Friday Dec. 13th. Salaries and other remunerations were also be paid by the Government on the aforementioned date.

 

On the DVRD’s, the day (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.

 

In addition to the DVRD’s, the exemption of duty and taxes on importation of foodstuff up to 400lbs, continue until December 31st 2019.

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