Earlier on June 25, the federal Cabinet spoke about this project to provide financial relief and restore economic conditions while facing global inflation.
The Government of Saint Kitts and Nevis has recently announced special duty-free allowances for non-commercial importation and travellers from November 15, 2024, to January 31, 2025. The decision was just passed by the Cabinet of the Federal Government led by Prime Minister Terrance Drew. The action aims to ease the financial burden on residents’ shoulders so they can get ready for the Christmas and Carnival seasons.
Prime Minister Drew also communicated that he was happy with this decision and said that Christmas and Carnival are times to celebrate and be together.
He mentioned that these tax-free allowances are part of our government’s ongoing work to help families and businesses enjoy the holidays without too much money stress. The residents are overjoyed with this relief and have started preparing for the festivities.
The Government of St Kitts and Nevis is requesting all non-commercial importers and travellers to take advantage of these duty-free allowances. This will only apply to goods delivered within the Federation during the fixed period.
The approved duty-free allowances include Gift packages of foodstuff. In this way, the first 400 lbs will be free of duties and taxes.
The government has made these provisions to create a trade-friendly atmosphere during this festive season. Residents should have the upper hand and make sure that they are aware of these regulations.
Again, non-commercial imports amount to EC $675.00(US$250.00) duty-free on CIF(Cost, Insurance, Freight) value. Noting that exceeding these limits can raise further charges. Christmas Discounted VAT Rate Days also include vehicle sales.
The duty-free concessions are connected to the extension of the Discounted VAT Rate Days programme approved by the government earlier this year.
Earlier on June 25, the federal Cabinet spoke about this project to provide financial relief and restore the economic conditions in the middle of the global inflation threat.
Prime Minister Dr Drew said this would help businesses and consumers with advance notice of the Discounted VAT Rate Days. The government is trying to make it easier for everyone to plan and enjoy the benefits.
They announced Back-to-School Discounted VAT Rate Days, which took place from Friday, August 16, to Saturday, August 17. This period of temporary tax relief on school supplies ran from July 1, 2024, to September 30, 2024. No taxes were charged on the school supplies.
In addition, from July 1, 2024, to September 30 2024, several exclusions concerning the Import Duty, Value Added Tax (VAT), and the Customs Service Charge (CSC) will be provided for practically all types of school items. It helped a lot of the residents of the nation.
This initiative included things like clothes for school uniforms, books and exercise materials like calculators. While the intention of the program was to reduce some costs, it was also important to know more about the requirements for the enrollment of students.
