Nevis, West Indies. ?A Non-Tourist-Trap? Blog About Nevis.

St. Kitts – Nevis’ PM – Denzil Douglas
Photo By Erasmus Williams

Basseterre, St. Kitts – Nevis
November 03, 2010 (CUOPM)

There is no Value Added Tax (VAT) on bank loans, withdrawals or deposits only on fees. That’s the word from Prime Minister and Minister of Finance, Hon. Dr. Denzil L. Douglas.

“When you go to the bank to withdraw your money, to the ATM machine or you go to deposit, there is no 17 percent extra or less that you are going to get in the money that you are depositing or the money that you are withdrawing. That is not how it works,” said Dr Douglas during his weekly call in radio programme “Ask the Prime Minister.”

“It does not work like that,” said Dr. Douglas, who explained: “There is no VAT. There is no VAT on bank withdrawals. There is no VAT on bank deposits, on loans or credit card payments. The VAT is collected fees charged by banks,” said Dr. Douglas, who re-iterating that “VAT has been exempted from bank fees related to the issue and processing of loans as well.”

Related posts:

1. Commercial Bank Deposits Now EC$2.5 billion
2. Nearly $5 million Approved In Student Loans
3. St. Kitts – Nevis Banks Approves Over 1100 Loans In 2006
4. St. Kitts – Nevis National Bank Earns EC$81m Profit In 2007
5. Development Bank Earns Record Profit Of EC$4.2 Million

The lawmaking body will convene at 10:00 A.M.

Basseterre, St. Kitts – Nevis
March 18, 2010 (CUOPM)

March 23rd 2010 is Budget Day in the Federation of St. Kitts and Nevis.

Speaker of the National Assembly, the Hon. Curtis A. Martin, has issues invitations to a wide cross section of the community requesting their presence at the Budget Session.

The lawmaking body will convene at 10:00 A.M.

Prime Minister and Minister of Finance, Hon. Dr. Denzil L. Douglas will lay on the Table, the Report of the Director of Audit for 2009 before introducing the Appropriation Act, 2010. The presentation will be made on the Second Reading of the Act.

The Appropriation Act provides for the services of St. Kitts and Nevis for the financial year from January 1st 2010 to December 31st 2010.

The Budget normally presented in December was delayed in view of the dissolution of the National Assembly and the January 25th general elections.

Debate on  the Budget is expected to begin on Wednesday March 24, 2010.

Related posts:

1. St. Kitts – Nevis To Present 2008 Budget
2. Nevis Premier Presents 2010 Budget
3. St. Kitts – Nevis’ Budget Day Is December 16
4. Citizens Await St. Kitts – Nevis 2008 Budget Address
5. December 9th Is Budget Day In Nevis

The USA Has Yet To Sign A TIEA

Basseterre, St. Kitts – Nevis
March 08, 2010 (CUOPM)

Australia is the 10th nation that St. Kitts and Nevis has signed Tax Information Exchange Agreements (TIEA’s).

With Friday’s signing by St. Kitts and Nevis Prime Minister Hon. Dr. Denzil L. Douglas and Australia’s Non-Resident Ambassador to St. Kitts and Nevis His Excellency Philip Kentwell, Australia joins Monaco, The Netherlands, The Netherlands Antilles, Aruba, United Kingdom, Denmark, Belgium, New Zealand and Liechtenstein.

St. Kitts and Nevis Prime Minister Hon. Dr. Denzil L. Douglas said the twin-island Federation will be signing tax information exchange agreements with six (6) Nordic countries on March 24, 2010 and will at the latest be removed from the OECD Grey List on that date.

St. Kitts and Nevis has already initialed or concluded negotiations with and are awaiting dates for signature with Canada, France, Germany, Norway, Sweden, Greenland, Faroe Islands, Iceland, Finland and San Marino.

The Federation has commenced discussions with India, Japan, the Republic of Seychelles and the United States on Tax Information Exchange Agreement but has not yet confirmed the text for these agreements.

Related posts:

1. St. Kitts – Nevis Signs TIEA With New Zealand
2. St. Kitts – Nevis Signs Another Tax Information Exchange Agreement
3. St. Kitts – Nevis Signs TIEA’s With Four Countries
4. St. Kitts – Nevis and Australia Sign TEIA
5. St. Kitts – Nevis and Monaco Sign Double Taxation Treaty