Two VAT days announced for December 2020

Two VAT days announced for December 2020

 Prime Minister, Dr. the Hon. Timothy Harris. 

 

This comes on the heels of consultations between the Government and the Chamber of Industry and Commerce.

 

Initially, one VAT Day was announced by the Prime Minister in October. 

 

On the VAT Day, otherwise known as Discounted Vat Rate Days (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$50,000.00, with VAT at the standard 17 percent charged thereafter.

 

PM Harris explained the reasons as to why there are now two (2) VAT days: 

 

Prime Minister, Dr. the Hon. Timothy Harris. 

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