Over 1600 business benefited from COVID-19 stimulus – Business Tax reduction

Over 1600 business benefited from COVID-19 stimulus – Business Tax reduction

 

Comptroller of the Inland Revenue Department (IRD), Mr. Edward Gift. As part of the COVID-19 stimulus measures, Mr. Gift said the Unincorporated Business tax was reduced from 4% to 2%.

 

The Corporate Income Tax rate was also reduced from 33 percent to 25 percent for the period April to June 2020, for businesses that retained at least 75 percent of their employees.

 

Meantime:

Comptroller of the Inland Revenue Department (IRD), Mr. Edward Gift.

 

According to Mr. Gift, St Kitts and Nevis is the only Caribbean Country in the OECS to offer these features to its people, during the Covid-19 pandemic.

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