The St. Kitts-Nevis government has designated two days this month as "Back-to-School' Discounted VAT Rate Days" extending the fiscal waiver normally granted to citizens during the Christmas period.
In a statement, the Government confirmed that on August 25 and 26 all value added tax registered businesses will charge VAT at the rate of five per cent on the sale of goods only.
All tangible items that are subject to 17 per cent Value Added Tax will qualify for the discount on the VAT Rate Days.
In addition, Cabinet has decided that the same guidelines implemented on the December Discounted VAT Rate Days should be applied to this month's exercise.
This means that the purchase of vehicles will be subject to the Discounted VAT Rate on August 25 and 26.
Prime Minister Dr. Terrance Drew has announced that discounted VAT rate days will be designated three times per year - Easter, Summer and Christmas.
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