Basseterre, St. Kitts (SKNSOURCE) — Prime Minister Hon. Dr. Terrance Drew made an exciting announcement about two reduced VAT (value-added tax) days set for Friday, December 15th and Saturday, December 16th during today’s (November 11) press conference.
The idea to introduce these days before Christmas derives from the government’s desire to give people time to plan and shop, thereby increasing economic activity during the holiday season.
“Of Course these days are before Christmas so that people can have an opportunity to shop before that day,” the Prime Minister said.
During those two days, the value added tax will be reduced from 17 percent to 5 percent.
While the specifics of the reduced VAT days are still being worked out, it is expected that a wide range of goods and services would be eligible for the VAT discount over these two days. Customers should expect lower costs on a variety of commodities, including retail products, electronics, clothing, vehicles, and household appliances.
As the holiday season approaches, individuals and families can now begin planning their shopping lists, keeping an eye out for promotions and deals leading up to the two reduced VAT days. By taking advantage of these opportunities, citizens can enjoy a more budget-friendly festive season while contributing to the overall economic growth of the nation.