The first Discounted Vat Rate Day (DVRD) for 2024 will be held (today) Friday Apr. 12th. It comes following the Federal Cabinet’s approval of the initiative in March.

The day will allow all approved VAT-registered businesses to charge VAT at the rate of 5% on the sale of goods only. Eligible items must be available for sale and delivered to customers. Vehicles, alcoholic beverages, guns, ammunition and cigarettes will not be eligible.

Items eligible must also be available for sale and immediate issuance or delivery to the customer on Discounted VAT Rate Days. Orders for items not in stock do not qualify.

Around the same period in 2023, the Federal Government approved a DVRD. It also forms part of the St. Kitts-Nevis Labour Party (SKNLP’s) commitment, in the lead up to the 2022 General Elections, of having VAT Days three times per year – (Easter, Summer and Christmas Seasons)