Saint Lucia readies for VAT reduction

Press Release:-Castries, Friday, January 13, 2017:The Inland Revenue Department wishes to remind the general public of the recent legislative amendment to the Value Added Tax (VAT) Act as per Statutory Instrument (SI) No.101 of 2016, which reduces the standard VAT rate from 15% to 12.5%, effective February 01, 2017.

As such, all VAT registered businesses are required to make the necessary adjustments to their point of sale systems to reflect this reduction in the VAT Rate.

The Comptroller, Mrs. Sophia Henry encourages business owners to ensure that this adjustment takes effect from midnight January 31 2017.

Consumers are also asked to remain vigilant and review their VAT invoices and sales receipts when transacting with VAT registered business.

24 Comments

  1. Redz
    January 18, 2017 at 8:56 pm

    If the country is broke at the VAT how it is, when it’s reduced what will become of us?

  2. Anonymous
    January 18, 2017 at 9:21 pm

    Let’s enjoy the reduction while Chas makes nonsensical asinine economical decisions that will soon send us straight into the hands of the IMF. Prepare yourselves.

    1. Anonymous
      January 19, 2017 at 9:56 am

      There is precedent for such a system working. The more a country squeezes from it’s citizens in taxes the less is available for private investment. Private investment drives economies, not governments. Ask yourself. Are our taxes being put to good use paying unproductive public servants? The size of the public service can be reduced to 25% of its current level and the output would remain the same. We’re taxed to death with no equivalent level of public services. Citizens of countries would gladly pay higher taxes if they receive high level of service. Just like you expect better service for a higher price in the private sector.

      With reduced taxes, citizens have more disposable income for spending/investment etc. That in turn can lead to more economic activity, which can lead to a larger potential tax pool and more taxes collected.

      Educate yourselves and stop being morons.

      1. Anonymous
        January 19, 2017 at 10:59 am

        Well said

      2. Anonymous
        January 19, 2017 at 11:17 am

        In that case the pm should not cry that the country is broke on one hand then reduces revenue streams on the other

      3. smh
        January 19, 2017 at 2:43 pm

        very well said.some of us have to educate ourselves and tryto educate the uneducated ones.don’t they know the lower tax the more money in your pocket and the lower the prices, the lower the prices the more you have to spend

  3. Anonymous
    January 18, 2017 at 9:27 pm

    Yes I agreed if the country is broke and
    vat is reduced it will be worse

    1. true talks
      January 18, 2017 at 10:01 pm

      Worse for de party

  4. Youdontneedtoknow
    January 18, 2017 at 9:45 pm

    Lol st. Lucians have a serious problem.. when they first introduced vat y’all were complaining it’s too high.. now it’s reduced and y’all still making it a problem.. my gosh😩

  5. true talks
    January 18, 2017 at 9:59 pm

    WTF, i wish it was 5%

  6. Sweetie pie
    January 18, 2017 at 11:48 pm

    12.5 percent,,,is still too high…Wudnt make a difference,,,chooopz😒

  7. 666
    January 19, 2017 at 12:30 am

    Kenny was a vindictive elite with an inferiority complex and a thin skin, who hated his own people and placed a 15% tax burden on them, during the great recession.

    Allen is an elite businessman with a big mouth, but I like the fact that he was a student of George Odlum. For the sake of our Helen, I hope he can connect his heart with his mind and lead Her to prosperity. We’ve been going in circles for too long.

    1. Real Student
      January 19, 2017 at 2:04 am

      Leave Brother George out of your nonsensical rantings. Brother George would never advocate deliberately foregoing revenue at a time the country needs it most. Who foregoes revenue when they broke.
      Do not invoke Bro. George’s name to spew your rubbish

      1. 666
        January 19, 2017 at 10:27 am

        Brother George is dead!

      2. smh
        January 19, 2017 at 2:46 pm

        lol

  8. Anonymous
    January 19, 2017 at 4:34 am

    Is there price control on goods and services in St.Lucia?. Will we actually see and realize the reported reduction in VAT? Is rounding off purchases to the nearest 5 cent in the best interest of the customer? .

    1. Anonymous
      January 19, 2017 at 9:57 am

      Rounding is in the best interest of ECCB. It costs money to make money. A cost reduction measure.

  9. Anonymous
    January 19, 2017 at 6:31 am

    St .Lucia will do well under Allan

  10. Anonymous
    January 19, 2017 at 7:24 am

    Imf is coming

  11. viewer
    January 19, 2017 at 11:58 am

    To the initially anonymous third comment,well said,people can be so asinine… Government works always want increase but fail to acknowledge that the citizens are the one who suffer the most fro tax used to pay them,but yet some of them have no respect for us. The poor man’s salary never increases and he has to purchase items which has 15% vat,how is he suppose to survive,when he has to pay utility bills,and take care of himself and family…

  12. Anonymous
    January 19, 2017 at 12:47 pm

    Ok

  13. Anonymous
    January 19, 2017 at 12:51 pm

    As kenny about global cargo!!!!!! Pl ease wai ting for an an swer
    .
    ..

  14. humble
    January 19, 2017 at 3:05 pm

    We St.Lucians are so backward in our thinking,it hurts to say it but i must .You mean to tell me We have a government that is willing to reduce the burden of VAT on our backs and many of you all are against it .I can bet you this if it was The Kenny Anthony Administration that were reducing VAT, the very same people that are saying e Par bon would be jumping for joy But because its not “their party” that doing it yo far chay. And is de same people that saying” bar guy wed”.De PM trying and ease you’ll burden and you’ll don’t want it.you know what they should be giving out cards for those of us who want to pay less VAT so you come an shop you have your card you pay less and for those who want to “save de country” don’t take no card and pay your 15%

  15. Sebo
    March 2, 2017 at 8:02 am

    True talk

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