St. Kitts to give temporary tax relief on school supplies, AC units

4 months ago 34

The Government of St. Kitts and Nevis has unveiled the remaining dates for its 2024 Discounted VAT Rate Days, which are strategically timed for the Back-to-School and Christmas shopping seasons. In response to rising global temperatures, concessions have also been introduced for air-cooling devices.

The Discounted VAT Rate Days initiative aims to provide financial relief to citizens and stimulate economic activity amid ongoing global inflation. The designated dates for the remainder of 2024 are as follows:

  • Back-to-School Discounted VAT Rate Days:
    • Friday, August 16
    • Saturday, August 17 (Note: Vehicle sales are excluded on these dates.)
  • Christmas Discounted VAT Rate Days:
    • Friday, December 13
    • Saturday, December 21 (Note: Vehicle sales are included on these dates.)

Additionally, from July 1, 2024, to September 30, 2024, there will be a period of temporary tax relief on school supplies. During this time, no taxes will be charged on eligible items, including cloth for school uniforms, textbooks, and calculators. Exemptions from Import Duty, Value Added Tax (VAT), and Customs Service Charge (CSC) will apply to a wide range of school supplies.

Prime Minister of St. Kitts and Nevis Dr. Terrance Drew emphasized that this initiative is designed to support families and students by making essential school supplies more affordable.

In addition to these measures, the Federal Cabinet of Ministers has approved a temporary concession on air-cooling devices, effective from July 1, 2024, to September 30, 2024. During this period, no taxes will be charged on eligible air-cooling devices. Prime Minister Drew underscored the health risks posed by extreme heat, particularly for the elderly and young children.

- Advertisement -

“High temperatures in our homes, schools, and workplaces are a serious health concern,” said Prime Minister Drew. “Staying cool and hydrated is crucial during these summer months, and we believe these concessions will help our people cope better.”

The tax relief on air-cooling devices includes:

  1. Air conditioning units (including mobile) with a BTU strength of 24,000 or less
  2. Fans (including ceiling, standing, wall-mounted, table, etc.)
  3. Evaporative coolers

This exemption applies to all commercial and non-commercial importers, allowing widespread benefit from the initiative. However, it does not cover parts associated with these devices.

- Advertisement -

The Government is also encouraging the purchase of energy-efficient air-cooling devices and advises unplugging them after use, where possible, to reduce energy consumption and avoid higher bills.

These measures reflect the Government’s commitment to supporting its citizens through financial relief and health initiatives, addressing both economic and environmental challenges.

Read Entire Article