Reminders

The Due Date for Payment of Property Tax 2020 has been extended to September 30, 2020, as per the initiative outlined in the COVID-19 Stimulus Package 2020"

......................................................

 

The Automatic Exchange of Information (AEOI) Competent Authority for the Federation of Saint Kitts and Nevis has revised the filing deadline for FATCA and CRS reporting

The Saint Kitts and Nevis AEOI Competent Authority wishes to advise the Financial Institutions that it is now extending its FATCA reporting deadline for the 2019 reporting period to 30th November 2020.
The Saint Kitts and Nevis AEOI Competent Authority is also extending its CRS reporting deadline for the 2020 reporting period to 30th November 2020.

......................................................

 

Liquor Licence

The St.Kitts and Nevis Government has suspended all Liquor Licence renewals until further notice.

......................................................

 

Liquor Licence

All Liquor Licence renewals start at the Sir Lee Llewelyn Moore Judicial Complex (Court's Cashier.) The stub given there, should be presented to the Inland Revenue Department in order to process the Licence.

......................................................

 

Taxpayers are reminded that property tax is due and payable each year, on or before June 30th.

NB All property bills with arrears, must first be queried at the Customer Service Section, before payment is made. Property bills without arrears should be taken directly to the Cashier Section for payment.

......................................................

 

FREQUENTLY ASK QUESTIONS

What is Property Tax ?

A tax levied by the government on real property. Real property refers to all land, structures, firmly attached and integrated equipment (such as light fixtures or a well pump) and anything growing on the land,

How is Property Tax used ?

Property Tax is collected by the Inland Revenue Department on behalf of the Government of Saint Christopher and Nevis. This money is used to service the social needs of the citizens and inhabitants of the community in the form of road building and repair, schools, hospitals and clinics, fire and police services, garbage collection and dozens of other programs. Property Tax should therefore be looked at as a contribution to the social & economic development of the country for future generations.

When is property tax due ?

Property Tax is an annual tax and payment is due on or before 30th year. If payment is not made on time then interest at the rate of 12 percent per annum is added to the tax.

Is payment due if I did not receive a tax notice?

Yes, payment is due before the due date or interest will be charged, even if you did not receive a notice. It is the responsibility of the taxpayer to ensure that their obligations to our society are being met. It is also the responsibility of the taxpayer to update their contact information, including e-mail addresses, with the department when there is a change. If you do not receive a notice before the due date, contact the Inland Revenue Department to have another sent to you or you may come into our office. Not having received a notice is not a valid reason for late payment of taxes.

How is my property valued ?

Property is valued using the market value of recently sold similar properties in the same area multiplied by the size of the building. This value is discounted using theage and condition of the building. For full details see THE VALUATION OF PROPERTY section.

What is market value ?

Market Value is the amount that a property might be expected to realize if it is sold on the open market by a willing seller and a willing buyer, both dealing at arm’s-length. The arm’s-length principle refers to both parties being independent, unrelated and acting without bias or favour.

TIPS
  • Here are two benefits of holding a valid Business Licence.

    • You would be in good legal standing with the Department, since it is illegal to operate in the Federation without one.
    • You would be in a better position to obtain financial assistance from lending institutions, since most institutions conduct business verification checks with the Inland Revenue Department.