Reminders

"The Inland Revenue Department is requesting all taxpayers whose personal information is obsolete, to kindly visit the office at their earliest convenience to facilitate updates"

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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.

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Liquor Licence

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

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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.

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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"

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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.

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PROPERTY REGISTRATION

All real property (land and buildings) must be registered with the Inland Revenue Department. As the new owner of real property, you must notify the Inland Revenue Department and state the date on which you took possession of the property. This will usually be the date on which the agreement was signed or the final payment was made. This is important to determine who is responsible for the tax, and at which point the tax responsibility was passed from one individual to another. Failure to voluntarily notify the department that you are the new owner of a property that is subject to tax, may render you liable to a twenty-five (25%) under-reporting penalty and other interest charges.

The Inland Revenue Department receives information on new property ownership from several sources. When received, our administrative support team will contact the owner to verify this information, and the owner will be asked to identify the property on our map. The taxpayer will be asked to produce a Certificate of Title (COT), identifying the property, the owner(s) and the floor plans with measurements if a structure exists on the land and the plans if they are available. As a property owner you should always have a copy of your COT. The original should be kept in a safe place. If a bank or other financial institution is in possession of your COT, they are required by law to provide you with a copy for tax purposes.

You will be asked to complete a Property Tax registration form indicating your full legal name and address, and other contact information including phone numbers and email addresses. This is important as Property Tax Bills and other important correspondence, will be mailed to the address provided. We require valid identification such as a driver licence, national ID or passport, for registration.

Inland Revenue officers are obligated to explain the entire registration process to you. Please ask questions relating to the valuation process, and how the value for taxation purposes is assessed.

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.