Prime Minister and Minister of Finance, Dr. the Hon. Timothy Harris. The PM made the announcement at a Sitting of the National Assembly, today 1st Dec. this comes following advice from the Chamber of Industry & Commerce.

Initially, the Vat Rate Days (also dubbed Discounted VAT Rate Days-DVRD’s), were slated for the 16th and 18th of December. What is the rationale behind the change?

Prime Minister, Dr. Timothy Harris.

On the VAT Days, all VAT registered businesses charge VAT (Value Added Tax) at the rate of 5 percent, on the sale of goods only. For vehicle purchases, VAT will be exempt on the first EC$50,000, with VAT at the standard 17 percent charged thereafter.