St Kitts to reduce Value Added Tax for Christmas season
The St Kitts-Nevis government says it will reduce the Value Added Tax (VAT) on a number of items for two days this month in a bid to stir economic activity ahead of the Christmas Season.
Prime Minister Dr Denzil Douglas, who is also Finance Minister, says the VAT will be reduced on December 12 and 19.
He said that over the years, the public and businesses have welcomed these VAT-reduced days since this usually results in savings for the public, and allows businesses to generate more revenue.
The VAT, which was introduced in 2010, has reportedly contributed significantly to the stabilisation of the twin island Federation economy, which has received nine highly positive reports from the International Monetary Fund (IMF).
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