- SKN: December VAT discounted days return
The Discounted Value Added Tax (VAT) Rate Days are making a comeback to St Kitts and Nevis on December 15 and 16, 2023.
This one-of-a-kind event, the grand finale of the planned three VAT Discounted Days for 2023, would allow approved VAT-registered firms to offer their consumers a 5% VAT discount on qualified goods.
Customers can take advantage of a special 5% VAT rate on a wide range of eligible goods, which were previously subject to the usual 17% VAT rate, during this two-day shopping frenzy. This offer is only valid for tangible things that can be provided or delivered immediately during the Discounted VAT Rate Days.
Except in circumstances where a duty-free concession exists, VAT will be excluded on the first $50,000 of vehicle expenditures. Vehicles will be taxed at a rate of 17% on amounts over $50,000. Only in-stock items are eligible for the Discounted VAT Rate, thus orders for items that are not readily available will be denied.
Certain items, such as weapons, ammunition, cigarettes, and alcoholic beverages, are prohibited from this campaign to safeguard customer safety and well-being.
Wine, Brandy, Vodka, Whisky, Gin, Rum, Liqueurs, Beer, Guinness, Royal Stout, Carib and Smirnoff Ice are among the alcoholic beverages that will not be eligible for the reduced VAT rate. However, a large range of other products will continue to be available at the unique 5% VAT rate, allowing buyers to save significantly.
Individuals can visit www.sknird.com or contact the Inland Revenue Department directly for the most recent updates and additional information regarding the Discounted VAT Rate Days.
