The St Kitts-Nevis government has announced a temporary tax relief on school supplies as well as the continuation of a special initiative to provide financial relief to citizens and boost economic activity in light of ongoing global inflation.
In a statement, the government said that it had approved a temporary tax relief on school supplies from July 1 to September 30 this year as well as discounted value added tax (VAT) rate days for the rest of the year.
“By giving businesses and consumers more advance notice of the discounted VAT rate days, we are making it easier for everyone to plan and benefit. This initiative not only supports household budgets but also stimulates our local economy,” the statement quoted Prime Minister Dr Terrance Drew, who is on an official visit to Taiwan, as saying.
Regarding the temporary tax relief on school supplies, he said that during the period no taxes will be charged on eligible items.
“This initiative aims to support families and students by making essential school supplies more affordable. We are committed to investing in our children’s education and easing the financial burden on parents,” he said.
The government also announced that it has approved a temporary concession on air-cooling devices from July 1, to September 30 this year and that during this period, no taxes will be charged on eligible devices.
The government said that as climate change continues to cause unusually high temperatures, the health risks posed by extreme heat, especially for the elderly and young children, is a reality.
“High temperatures in our homes, schools, and workplaces are a serious health concern,” said Drew, adding “staying cool and hydrated is crucial during these summer months, and we believe these concessions will help our people cope better.”
