St Kitts PM to stick with timetable for VAT

The Prime Minister of St Kitts and Nevis, Dr Denzil Douglas, says his administration will stick with the time-table for a November introduction of the Value Added Tax (VAT) system in the country.



The VAT 2010 legislation received its first reading in the Parliament on June 30 and the proposed legislation has gone out to the public for discussion.



The prime minister says the VAT rate will be 17 per cent.



The Hotel and Tourism Association had appealed for a reprieve from the full rate of VAT, because of the hit that the industry has taken due to the current global financial crisis and the fact that its rates for the new season had already been announced.



However, the prime minister announced that an excise tax will be placed on alcohol and tobacco.