St Kitts and Nevis: Prime Minister Timothy Harris hosted the Cabinet Press Conference on Wednesday, June 29, 2022, where he outlined sixteen measures implemented by the government of St Kitts and Nevis to help mitigate the effects of rising costs of living.
Read Here: Sixteen measures implemented by the government of St Kitts and Nevis.
- Waiver of Payments for consumption of water for individuals who have been laid off or have experienced a reduction in earnings as a consequence of the COVID-19.
- Waiver of payments for the consumption of water by farmers.
- The government also took the step of the removal of VAT and Import Duty from selected hygiene items.
- The step of the removal of import Duty and Customs Service Charge on selected items, including vegetables, fruits, fruit juices, cough and cold preparations and vitamin supplements, have also been taken by the government.
- Reinstatement of the annual Import Duty exemption for 16 tires (4 tires per quarter), four pairs of brake pads and three pairs of brake shoes for “H” Passenger Buses.
- Reintroduced the duty-free allowance by non-commercial importers for a six-month period ending September 2022.
- Reintroduction of the remaining duties and taxes on the ingredients required for the production of $2.00 bread for a period of six months.
- There is also placement of an eight-month cap on the freight cost that is used in the calculation of duties and taxes that are paid on the importation of goods for 20 and 40 for Dry and Reefer Containers.
- The Corporate will witness Income Tax reduction from 33 percent to 25 percent (Businesses that retain 75 percent of employees.
- There will be an unincorporated business Tax Reduction from 4 percent to 2 percent.
- The government announced the reduction of the excise tax on Fuel from $2.25 to $0.95. (Also, an increase of $0.30 on the Dealer’s Margin).
- The government also announced the continuation of the Poverty Alleviation Programme, SAFE, SELF and other social safety Net and Welfare Programmes.
- The government launched Income Support Programme, which will give Up to $1,000.00 per month.
- The Disabilities Support Programme was also launched, which includes ($600.00 per disabled child).
- Prime Minister Timothy Harris-led government announced the Fuel Subsidy Programme ($400.00 per Passenger/Taxi Driver).
- Moratorium on Payment for Electricity arrears and waivers of fees for electricity reconnection.