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"

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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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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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FATCA FOR FINANCIAL INSTITUTIONS

The United States has defined a Foreign Financial Institution (FFI) for FATCA purposes to be any entity that:

 

      • Accepts deposits in their ordinary course of business

            o Depository institutions (for example, banks)

 

      • Holds as a substantial portion of it’s business, financial assets for the account of others

            o Custodial institutions (for example, trusts)

 

      • Is engaged in investing, reinvesting or trading of securities

            o Investment entities (for example, hedge funds or private equity funds)

 

      • Are Insurance Companies (or the holding of Insurance Company) that issue contracts with an investment component.

 

Financial Institutions operating within the Federation of St. Kitts and Nevis that have registered with the United States Internal Revenue Service (IRS) to report under FATCA, are required to submit information to the St. Kitts and Nevis FATCA Competent Authority for onward transmission to the IRS. Information must be submitted using the St. Kitts and Nevis FATCA Portal. FFIs must first ensure they are registered with the IRS as information received upon IRS FATCA registration will be required for the St. Kitts and Nevis Portal Enrolment, including the Global Intermediary Identification Number (GIIN).

 

FFIs can also contact the St. Kitts and Nevis Competent Authority via email at fatca@sknird.com.


Click here  for more information published by the United States Internal Revenue Service (IRS)

TIPS
  • All taxpayers with arrears, who have not made arrangements to pay their tax debt in full, are encouraged to contact the Inland Revenue Department immediately.  The Department is prepared to assist all taxpayers to honour their tax obligations by providing payment arrangements that considers taxpayers unique circumstances.